Reuters news agency has released a survey of economists and analysts that suggests that house prices are set to rise by seven percent 2014.
According to a poll, house prices in the UK are expected to surge by some seven percent this year. Reuters news agency interviewed some 27 analysts, who said that a supply shortage and demand from overseas investors will continue to push up London prices.
Growth in average UK prices is expected to slow down, while the London market remains out of step with the rest of the UK. Prices in the British capital are expected to rise by 9.2 percent this year, seven percent next year and five percent in 2016.
Interest rates have been at a record low for five years, making mortgages cheaper for homes owners and buyers alike. The rate is expected to start to rise slowly from 2015.
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