Some areas of the UK could see house prices rise by 8% next year, benefiting from the ripple effect as the recovery in London flows through to other regions, figures from the Royal Institution of Chartered Surveyors shows.
The RICS is forecasting an average 6% rise in prices across the UK as a whole, ranging from 3% in the northeast to 8% in East Anglia, the latter helped by a strong labour market in Cambridge plus its proximity to London.
Simon Rubinsohn, the institution’s chief economist, said the lagging effect of various government initiatives meant that both house prices and rents were likely to continue rising over the next 12 months. The RICS is forecasting a 3% rise in the rental market.
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