House prices set to surge in South
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THE HOUSING market in southern England is set to surge next year on the back of rising confidence, leaving the Midlands and the North behind, according to a report out today.
House prices in London, the South-east, East Anglia and the West Country will rise by about 6 per cent in 2000, Cambridge Econometrics said.
But prices in north-west England will rise just 3 per cent, the West Midlands 3.1 per cent and Yorkshire and Humberside 3.5 per cent.
UK house price inflation is forecast to reach 4.9 per cent in in 2000 after slipping to 4.6 per cent this year from 10.1 per cent in 1998.
Cambridge forecasts that house prices in the four areas of southern England will rise by about 5 per cent a year between now and 2010.
But this year will see a slowdown in price inflation and a fall in the number of transactions. "This reflects the impact of the general weakening in confidence associated with the expected poor performance of the economy during 1999," Cambridge said in its housing market report.
"Weak economic growth, rising unemployment and falling activity in the housing market will put less upward pressure on prices than in 1998." Housing market activity would fall by 2.5 per cent in 1999 after a decline of 6.5 per cent last year.
Cambridge said mortgage rates were still not low enough to stop the market succumbing to low economic confidence.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments