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'Railways and oil' to boost prices
- Published 12/31/2007
- Property market news
- Unrated
It's being widely predicted that house price growth will be much softer in 2008, but Halifax has said that external forces could still help certain areas see strong rises next year.East London and Kent, for example, will benefit from expectations regarding the forthcoming Crossrail network and improved commuter links respectively, according to Halifax Estate Agents.
The firm has also noted that Aberdeen will likely see prices rise once again next year as the housing market in the area is linked to the price of oil - a major part of the local economy.
"Some areas will continue to be in high demand next year with property prices rising accordingly despite the expected subdued outlook across the market as a whole," commented Halifax Estate Agents managing director Colin Kemp.
Those areas that are likely to record the biggest price gains will tend to be those with a combination of good transport links to a major conurbation and relatively low average prices. A number of areas will see a boost to prices as a result of significant infrastructure projects," confirmed Mr Kemp.
However, Global Insight has predicted that house prices across the UK as a whole will fall by an average of three per cent next year.
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