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Article: Property gold rush as house prices rise 7pc.
- Article from:
- Daily Mail (London)
- Article date:
- June 8, 2006
CopyrightCOPYRIGHT 2006 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: SEAN POULTER
HOUSE prices are expected to rise more than three times faster than predicted this year because of fierce competition among buyers.
The Council of Mortgage Lenders yesterday admitted that it had got its figures wrong and now expected prices to rise by an average of seven per cent.
That would add around [pounds sterling]13,000 to the average house price of [pounds sterling]185,000.
But it is clear that some parts of the country, particularly the South, will see even bigger rises.
The CML also believes the number of house sales will surge, resulting in the first year- on-year increase since 2002.
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