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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.
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!
Got my offer on flat I rent accepted, so now it seems obvious to me that the price will continue to go up indefinitely.
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!
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