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Future of UK housing market 'tough to predict'
Posted by Emily Swanson
Britain's housing market is facing a mixed outlook in the near future and regional growth will vary massively, an expert in the industry has said.
According to Catherine Hearnden, director at My Mortgage Direct, the short-term outlook for the sector is almost impossible to predict as the country continues its recovery in the wake of the global economic downturn.
Research published by Nationwide earlier this month (November 1st) revealed that house prices across the UK went up by 0.4 per cent last month, while the cost of a typical home is now 0.8 per cent higher than it was this time last year.
However, Ms Hearnden explained it is difficult to make any solid estimation on how this trend will continue in the coming months, but added that London usually provides a good gauge for the country as a whole.
"I think it is wise to look at London as a guide to what is going to happen. A lot of that will depend on interest rates and jobs," she noted. 
04/11/2011 16:00
News category: Property