Reita predicts "substantial" property price rises
Property prices in the UK could rise by as much as 15 per cent
throughout 2010, according to an expert at Reita.
Patrick Sumner, chair of the property investment organisation,
believes that underlying real estate values are recovering and that
prices will move up as demand continues to exceed supply.
"There is still quite a substantial recovery to come, so you could
see un-geared property values - UK average - rise by ten or 15 per
cent over the next 12 months," he commented.
According to the Property Investment Perspective published by Reita
in October, 95 per cent of industry experts said that they felt
that the conditions within the market had improved over the three
months from July 2009.
Mr Sumner added that the commercial property sector was set to make
"pretty sharp value increases", with real estate in shopping
centres, retail parks and modern, central London office space
performing well for investors.