Insurance News Archive

House prices set for huge growth over the next decade

The managing director at EH Landlord Services has claimed that house prices could grow substantially over the next ten years, potentially leading to a boost in rental levels.

While the prediction from Ed Harris may signal even more robust times ahead for the rented commercial property market, owners should be wary of the rise and rise of renting over buying and invest in adequate rent protection insurance. 

If the prediction rings true and rent levels do rise, the only downsides for property owners are that increased rents could further deplete tenants' finances further in this age of recession. 

Mr Harris said: "Things do rise and things do move forward. I think there is a very good chance that the economic indicators - including inflation - will push things forward. We are going to see substantial growth in the timeframe of ten years."

Rightmove recently revealed that the average asking price of a property coming to market tumbled by £7,528 (down 3.1 per cent) in October of this year. 

Posted by Michael Brown

28 Nov 2011