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.
The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.
Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.
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.
Please remember that investments of any type 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.