NHF points to future property price rises

NHF points to future property price risesProperty prices are set to rise significantly over the coming years, new research indicates.

Although figures from the National Housing Federation (NHF) report the value of the average home will fall 12.2 per cent this year, however, before declining 4.6 per cent in 2010, following years could see major increases.

With predicted growth of 1.1 and 7.5 per cent to take place in 2011 and 2012 respectively, the federation claims that 2013 could see rises of 8.4 per cent.

And with a 6.8 per cent hike forecast for 2014, the NHF states the end of this year will see the typical property be worth £227,800.

"Our new research shows that while house prices are falling in the short term, they will inevitably increase in the long term because of a fundamental under-supply of housing," David Orr, chief executive for the organisation, claims.

However, those looking to take further steps to boost the value of their property may find getting to grips with DIY - such as decorating or fitting new doors - proves to be of assistance.

Meanwhile, a recent Allinson's study revealed more than a quarter (29 per cent) of people are looking to tackle home improvements themselves in an effort to save money.ADNFCR-2244-ID-19298018-ADNFCR

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