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House prices to rise no more than 11%

  • 15/01/2003
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House price inflation has cooled for the third month running, according to the latest housing mark...

House price inflation has cooled for the third month running, according to the latest housing market survey from the Royal Institute of Chartered Surveyors (RICS).

47% of members reported rises rather than falls. This is down from 53% in October and 58% in September, although still well above the average of 24%.

Ian Perry, national housing spokesman for RICS, said: ‘Looking ahead to 2003, we expect to see house prices to rise by no more than 11% in the year, reducing to 5% in 2004. There is already a slowdown in price inflation evident in southern England and the other parts of the country should follow next year.’


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