House prices look set to rise faster than wages despite weak transaction levels, according to property surveyors.
The Royal Institution of Chartered Surveyors (RICS) said the overwhelming majority of its members expected prices to rise across Britain by around 3.5% each year during the next five years, despite signs that the market has become more subdued recently.
“Perhaps the most ominous signal emanating from the data… is that contributors still expect house prices to increase at a faster pace than wages over the medium term despite the difficulty many first time buyers are clearly having in taking their first steps onto the property ladder,” RICS chief economist Simon Rubinsohn said.
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This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.
