House prices could rise again

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Those who choose to improve rather than move could see the benefits in the future if predictions made by a new property website come to pass.

NewHomesForSale.co.uk believes that the lack of residential developments being built could lead to a shortage of houses in the future, driving prices back up.

Spokesperson Michelle Williams suggested that an imbalance in the building market could lead to values changing rapidly.

She highlighted figures from the Royal Institution of Chartered Surveyors (Rics), which show that buyer interest has been increasing steadily for four months.

"However building activity is in sharp decline," she said. "UK homes completed in September, October and November 2008, totalled 31,104 compared to 46,671 in the previous year."

Ms Williams went on to point out that fewer people are deciding to sell – another factor in the reduction in available homes.

If the prediction is correct, those who have invested in home improvements such as conservatories or pool houses could find their properties worth more in future.

Price comparison site moneysupermarket.com recently criticised new legislation which means sellers must have a Home Information Pack in place before listing their property."ADNFCR-1495-ID-19092175-ADNFCR"

 

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