Salient to Investors:
Miles Shipside at Rightmove said the continued increase in London prices restricts any recovery in transaction volumes that a healthy market needs. Rightmove said that new sellers in London will raise prices by 3 percent in 2013 versus 6.8 percent in 2012. Shipside said the thaw will be helped by growing confidence that prices are more likely to go up than down.
Acadametrics said home values may rise modestly in 2013 though the outlook for the economy remains uncertain.
The Centre for Economics and Business Research expects UK house prices to rise 0.8 percent in 2013, and the average value will surpass the 2007 pre-crisis peak for the first time in 2014.
Read the full article at http://www.bloomberg.com/news/2013-01-21/london-house-prices-record-biggest-new-year-surge-in-five-years.html