Volatile house price market predicted
www.moneynews.co.uk > Housing market > Volatile house price market predicted
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Money News |
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Volatile house price market predicted
Thu 14th Jan 2010
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Responding to last month's UK Housing Market Survey by the Royal Institution of Chartered Surveyors, Lucian Cook said it appears at the moment that the potential for property values to rise is becoming limited - a situation his organisation has observed building up over the last few months.
"This bodes for more volatility in house price rises going forward," he explained, adding that this will last "until conditions are right for sustainable house price growth".
Mr Cook stated that in order for this to happen, the UK economy needs to begin expanding again at a healthy rate and the mortgage market needs to open up.
He suggested one of the key indicators will be when it becomes possible to get 90 per cent loan-to-value ratio products "on reasonable terms".
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