UK property price increase expected in 2010
House prices in the UK are expected to rise in 2010 despite negative factors still affecting the property market, according to Assetz.
The property investment firm made the comments after the Royal Institution of Chartered Surveyors (Rics) released statistics showing that fewer people were optimistic about price rises in the next year.
Stuart Law, chief executive at Assetz, believes that the Rics survey is "lagging behind" indications from other sources.
He said: "It is stronger than it sounds. We have been seeing growth for about seven months and the growth rate has been very consistent every month, across the board."
He added that "the negative factors that can be foreseen are unlikely to outweigh the fundamentally competitive property in the UK [and] supply is far less than demand".
Assetz is predicting that prices will rise at an annual rate of 11%, if prices continue to increase at the rate they have over the past several months. Mr Laws added that the growth rate will slow slightly in 2010.
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