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Written by rosalind renshaw

House prices in the UK will increase 8% next year, the RICS has forecast.

It says the rise will be driven by the “acute imbalance between burgeoning buyer demand and sluggish supply, with new instructions to estate agents close to stagnating”.

The RICS says there will be price rises across the country, led by an 11% increase in London.

It is also forecasting 1.2m transactions next year, up from 1.05m this year, but well short of the 1.67m back in 2006.

Meanwhile, the NAEA has reported that the percentage of first-time buyers rose last month to its highest level since 2009, but that the supply of stock fell back again.

According to the NAEA, an average of nine homes was sold per estate agency branch last month – with two going to a Help to Buy purchaser.

Comments

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    Dear Ros,

    I'm very sorry to learn of your retirement as editor of EAT. It will be a huge loss for the site.

    Thank you so much for all you have done over the years to keep us both informed and entertained. The agency world of sales and lettings is largely made up of individuals and small firms most of whom keep up to date with the latest news, legislation and gossip from this website. It is an invaluable service produced and generated by you and the energy that you give to it

    Good luck in whatever you are going on to do, thanks for all you have done for our industry and may I wish you and Andrew a happy Christmas and offer my best wishes to you both for 2014 and beyond.

    • 23 December 2013 10:33 AM
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