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U.K. House Prices Will Rise 5% in 2010 on Low Rates, CEBR Says

By Implode-Explode Heavy Industries

"U.K. house prices will extend their recovery this year as low borrowing costs and the shortage of homes support the property market, the Centre for Economics and Business Research said. Home values will rise 5 percent and mortgage costs will cheapen as the Bank of England keeps its key interest rate at a record low of 0.5 percent, the London-based group said in an e- mailed statement. The group cut its forecast for price increases this year from 6 percent after the tax on home purchases rose and cold weather damped demand for property."

Full post as published by Mortgage Lender Implode-o-Meter on May 03, 2010 (boomark / email).