What are the long term forecasts for house prices?

For many people looking to sell their house over the next few years, and for the local estate agents who will be marketing them, the Centre for Economics and Business Research (CEBR) announced some positive news in early 2012. Economists there have predicted that house prices will increase by 15 per cent over the next five years.

There are many reasons that they have reached such a conclusion, with the most important being quite straight forward. Because of continuing economic challenges over the same period, there is going to be a significant shortage in the number of properties coming to market.

Understanding the figure in more detail paints a slightly less promising picture however; a wholemarket 15 per cent rise, represents just a 2.8 per cent year-on-year rise. This is far better than has been seen in the preceding five years but is still significantly less impressive than the annual increases which were seen through the 80s, 90s and early 00s.

There are also a large number of other economists who do not agree with the CEBR’s predictions; suggesting instead that the market is headed for a crash. Many are more pragmatic and simply say that they will continue to monitor things, only offering up short-term forecasts and comments.

Looking for generalised expert advice regarding the path of house prices is one factor to consider before putting a property up for sale. A far more appropriate advice measure to seek is that of the best estate agents in a local area. Even this is not a cast iron measure; with the true determiner of a house price only ever being the price offered.

To give any house the best chance in a market, whether falling or rising, working with a good agent is essential. Researching what their customers are saying about them makes sense, and it is such estate agent reviews that we provide at MeetMyAgent.

The Article is written by www.meetmyagent.co.uk providing Find Estate Agents and Estate Agents London. Visit http://www.meetmyagent.co.uk for more information on www.meetmyagent.co.uk Products and Services___________________________Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links and this copyright statement must be included. Visit www.meetmyagent.co.uk for more services!

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