Unexpected growth in house prices is seeing forecasts for the year revised upwards, but are we overestimating the buoyancy of the market?
Earlier this week, estate agency chain Savills drastically upped its estimates for house price growth. It had previously predicted a rise of 0.5% during 2013 but has now revised that figure to 3.5%.
It said government initiatives such as Funding for Lending and Help to Buy were pushing prices higher.
It anticipated house prices in London will have grown 6% before the end of the year with properties worth 18.1% more at the end of 2017 than present values.
How far do you think house prices will rise by the end of the year? Are estimates now too optimistic or are we set to see more rapid house price growth?
Have your say in our poll HERE.
