Real estate

Surveyors double forecast of house price rises to 6%

The Royal Institution of Chartered Surveyors will reveal in its report today that house prices will end the year up 6%, in line with its original growth forecasts. It will say that the strong jobs market and low mortgage rates have supported demand from buyers, while the number of homes coming on to the market remains at its lowest level in at least three decades. If the 6% forecast is correct, then a house worth the national average of £272,000 at the end of last year will have risen £16,320 in value by the end of 2015. The strongest price growth is expected in Northern Ireland, where prices are now forecast to rise 11% over the year, whereas in the northeast of England Rics is expecting a 3% decline.

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