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You'd better hope it doesn't go up much before contracts are exchanged, or you'll experience another feature of the English property market - gazumping!
But the analysts at Capital Economics suggest that the most serious and widespread effects will not begin to be felt until late next year. They are forecasting increases of 12 per cent in 2003 before falls of 5 per cent in 2004, 10 per cent in 2005 and 7 per cent in 2006.
That would see the average price rising from around £117,000 now to £128,000 by the end of next year, then falling to £102,000 by Christmas 2006.
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