• Aug

Annual Property Growth set to hit 10%

The latest research by property analysts Hometrack shows that annual home price inflation in Britain’s 20 biggest cities is currently running at 8.4 per cent but it estimates that this rate of growth will rise to 10% by the end of this year, on the back of the widening supply-demand imbalance in the market and a strengthening domestic economy, which is fuelling optimism in the market.  The report also found that the average price of a residential property rose by 4.3 per cent in the second quarter of 2015 to reach £226,200.   ‘Rising demand for property against a backdrop of low supply continues to push city level house prices higher’ said Richard Donnell, Director of Research at Hometrack.  It looks increasingly likely that city level house price growth will return to double digits by the year end’.