Mortgage Lenders Predict Property Prices Will Continue To Rise
Council of Mortgage Lenders says house prices will continue to rise
7th December 2005
The Council of Mortgage Lenders (CML) have predicted continued property price rises over the next two years, saying that a higher than expected amount of housing market activity has shown their previous forecast of steady or declining prices to be 'unduly pessimistic'.
The predicted rise for this year is 4%, with a further 2% per year over the next 2 years expected.
It appears that the August cut in interest rates has sparked new activity in both the housing and mortgage markets, with both new lending and enquiries up according to industry figures.
Read More: Guardian: House prices will continue to rise, say lenders
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