HOUSE PRICES SET TO RISE BY UP TO 8%

Leading south west estate agents Besley Hill are forecasting that house prices will start to rise again next year and could increase by as much as 8% over the next three years. This prediction from managing director Adam Offer supports the view of property consultancy CBRE, which also says that prime central London will continue to outperform the wider housing market, with values increasing by 6% this year and by 22% over the next three years. Adam Offer said: “House prices in the south west are not going to increase by the same amount as central London, of course, but I agree with CBRE’s expectation that they will rise significantly, possibly by as much as 8%, over the next three years. At the moment, most of Bristol and South Gloucestershire, where our offices are concentrated, are seeing prices remain static as supply is matching demand.”