The Royal Institution of Chartered Surveyors (Rics) has said that it expects property prices to increase by eight percent this year. This is largely due to demand outstripping supply – with the imbalance leading to the rises.
The UK capital has seen an increase of 11 percent on top of the double-digit increases over the past year – with prime spots in Central London benefiting the most from the boom.
The value of home loans to borrowers increased £17bn last month, up nearly a third on last year. The total value of home loans should reach £170bn in 2013, said the Council for Mortgage Lending.
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