House Value in Recovery Will Likely Lessen Next Year
According to a poll of property analysts conducted by Reuters: "British house prices will regain some lost value this year but while the speed of the uptick will taper off next year there is little chance of a double dip".
The survey, conducted quarterly, involved 27 analysts. They expect house prices will increase 3.5 per cent this year but a lower amount of 1.9 per cent for 2011. "We are not predicting a double dip but we are concerned by the fact that housing remains expensive, " said Peter Dixon at Commerzbank. This is good news for homeowners who lost home value. In some cases it erased the homeowner’s built equity on newer loans. Now with the news that the analysts expect a rise in house values through 2011 some gain should be seen. Since values will be increasing it is a good time for homeowners to secure a remortgage. Not only are values on an increase but interest rates are remaining low. Experts do expect the interest rate to rise sometime in 2011.