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Capitalís rising house prices to outpace the rest of Britain




Pricey property: buying a London home

London house price rises are set to outpace the rest of the UK for the  next five years , according to property giants CBRE.

The capital is expected to see prices rise by around 7% next year, before falling back to growth of around 5%.

In total, Londonís house prices are likely to go up by 31% in five years against a predicted 25% rise across the rest of the country.

An in-depth report into the key factors affecting housing stock found that tighter mortgage regulations and wider affordability issues, alongside expected interest-rate rises could all  stifle growth.

However, this was countered by the continued economic growth and potential rises as a result of the changes to stamp duty. Critics have suggested the scrapping of the slab rules on the tax could see sellers pushing up prices, in the knowledge that buyers are saving from a lower stamp duty bill.

CBRE also suggested that prices would be driven upwards by housing supply shortages.

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