Homeowners 'Earn £1,100 a Week' from Property Price Rises
The boom in house prices shows no sign of slowing down
18th May 2004
A report by property web site Rightmove estimates that the average homeowner has earned the equivalent of £1,100 a week over the last quarter through the continued rise in property prices.
Average house prices have risen by 8.3% over the last three months - representing a tax free gain that would need a job paying over £90,000 to earn a similar amount.
A recent report by The Royal Institution of Chartered Surveyors predicts that the housing boom will continue, despite ongoing interest rate rises, which is good news for homeowners but will make life even more difficult for first time buyers.
Read More: Rightmove, Royal Institution of Chartered Surveyors
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