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Housing market set to grow to six per cent in 2007
12 Dec 2006
The Council of Mortgage Lenders (CML) is predicting that the housing market will grow by six per cent in 2007.
Bernard Clarke, spokesperson for the CML, said that its prediction fell roughly in line with Rightmove's prediction.
According to independent mortgage adviser John Charcol, the housing market is set to experience a downturn of 0.3 per cent over the period.
Ray Boulger, spokesperson for John Charcol, disagreed with the notion that "people price their properties more aggressively because they want to sell quickly".
"Frankly that is a bit of nonsense because if you put your property on the market in December you are not expecting to sell before Christmas probably anyway," he added.
Mr Boulger also said that the slowdown might have been caused by the decision by the Bank of England's monetary policy committee to raise interest rates by 0.5 per cent to five per cent since August 2006.
