www.uncommonadvice.co.uk is proved right yet again!

A report released today by the National Housing Federation has put forward the view that the average house price in the UK will rise over the next 5 years by 25%. before you say it, this report was not drafted by council lefties but rather Oxford economists. They predict that house prices will fall by 2.1% in 2009 and then increase by 1.3% in 2010, 5.2% in 2011, 9.2% in 2012 and 9.3% in 2013.
The Chief Executive of the federation stated that, "..... despite concerns about the current market downturn, house prices will resume upwards". All markets abide by the rules of supply and demand, so lets look at the basics:

• the total number of new homes expected to be completed in 2008 is likely to be 120,000 against a government target of 200,000.
• one in every 4 local authority areas has seen its housing list double but the slowdown in newbuilds means that there is less public housing coming on stream.
• 1.5million people in the UK live in an overcrowded house.
• 73,360 households are officially homeless.

Mark my words 2008 is going to be remembered as a blip in an otherwise upwards house price trajectory. Therefore, it is of vital importance for First Time Buyers to act now - especially in the areas where it is still possible to get a 3 bedroom property with parking for less than £125,000; namely, the North East, the North West, the East Midlands and the West Midlands.

The fundamentals are still in place. It is simply the case that a herd mentality has spread across the country. Don't wait to buy property - buy property then wait! Mark my words