Great news in the property market as house prices are predicted to soar.
According to a forecast published by Rightmove and Oxford Economics, house prices across the nation should increase by up to 30% by 2019*. This substantial rise is backed by Savills who predict a 26% rise by 2018 (ThisisMoney.co.uk, October 2014).
Property forecasts can be generous at times, however the Rightmove and Oxford Economics collaboration has been proclaimed as the ?most comprehensive house prices forecast of its kind?, incorporating ?both asking and sold prices, surveyor valuations and analytics from the Oxford Economics forecasting model.? (Estate Agent Today, October 2014)
With the prospects of house values predicted to be on average 30% more in five years, now would seem the perfect time to invest in property in order to reap the full benefit of such an increase. Furthermore to maximise any potential profit, investors would be wise to focus on the strongest areas of growth; the South-East (37.3%), East (35.6%) and South-West (31.8%)*. * http://www.theguardian.com/business/2014/oct/10/rightmove-house-prices-rise-30-per-cent-five-years-outside-london