Housing Market 2006 Prediction - by Halifax, UKs biggest mortgage lender

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Will prices rise or fall during the next twelve months?

Rise.

By how much?

3%

2006 overview:

The bank says housing market fundamentals are "sound" but price growth is likely to remain below the long-term trend in 2006. Overall, house prices will not rise as fast as average wages, which should make property more affordable. Robust growth in average earnings - predicted to be close to 5% - as well as cuts in interest rates will combine to prop-up the housing market and prevent any slide in values.

Did it get it right in 2005?

No, it predicted a small fall in prices. The market proved a little more robust than predicted due to high levels of employment and continued economic growth.

Regional winners and losers?

The north/south divide will narrow further during 2006, the bank predicts. Modest price rises in Scotland and Northern Ireland are predicted while prices should stagnate in the south east and east Anglia.

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