Mullucks Wells
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RICS UK housing Market Forecast 2006
RICS (The Royal Institution of Chartered Surveyors) expects a rise in UK house prices of 4 per cent in 2006 and 4% in 2007. Purchases are also expected to rise firmly in 2006, having fallen for two successive years. A healthy job market and businss climate have helped to support housing demand.
A further 0.25% cut in interest rates is anticipated during the first half of 2006 which will help maintain these firm market conditions. As a result, mortgage approvals are likely to hit 1.33m in 2006, up nearly 10% on 2005.
See www.rics.org for full market surveys
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