RICS Comment on CLG House Price Figures

16th April 2007

Commenting on today's house price numbers, David Stubbs, RICS senior economist said:

Although the raw numbers from the DCLG show a fall, the figures do not take into account seasonal swings. The market clearly has strong momentum with buoyant economic conditions keeping housing demand high and supply limited, despite the effects of the three interest rate increases since August. The Spring period has been a good one for the market and it is clear that further interest rate hikes will be necessary to stabilise the market as the year progresses.

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