Robust 2007 housing market

Halifax and Nationwide both predict a rising housing market for 2007.  However
it will not be as strong as 2006, which was a rise of 8% across the UK.

Halifax predicts a rise of around 4% with the Royal Institution of Chartered
Surveyors predicting a rise of around 7%.

Halifax also predicts that there will be no town in the UK whose average house
price is below £100,000.

Martin Ellis, Halifax Bank of Scotland chief executive said 2007 will be a
healthy year for housing but "Higher interest rates, greater pressure
on finances and subdued real earnings growth … will constrain housing demand.
House price growth is set to ease as a result.”

London and Northern Ireland are set to lead the way with house prices expected
to top 8% for London and around 15% for Northern Ireland.  The ‘Olympic
Effect’ seems certain to increase house prices in the capital city.  Northern
Ireland house prices have increased by 34% this year but are expected to half
to around 15%.

The housing market is still robust and is set to continue.  This obviously
helps me and other property investors, however it is still a warning that it
is looking to slow down over the next few years.  The best places seem
to be London and Northern Ireland for investing with Halifax predicting Armagh,
Carrickfergus and Newtownabbey in Northern Ireland, and Hackney in London to
be the best areas.

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