Latest Expert Witness News

RICS say that house prices will increase in 2009

The Royal Institution of Chartered Surveyors said that the average price of a home will be “slightly higher” in the fourth quarter of this year compared to the same period last year.

RICS originally predicted that U.K. house prices would drop between 10 percent and 15 percent this year. But lower interest rates and the decline in house prices have encouraged buyers back to the market.

Signs are indicating that Britain’s economy is reviving, with reports showing house prices jumped almost twice as much as economists forecast in July and consumer confidence rising to the highest in more than a year.

Nationwide Building Society’s index of consumer sentiment rose to 60, the highest since May 2008. Homeowners expect the value of their properties to rise 0.5 percent in the next six months, the most since December 2007.

back