House price growth 'set to remain flat in 2008'

House price growth 'set to remain flat in 2008'

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While some areas of the country will continue to experience growing demand for property, the market as a whole will remain flat in 2008, according to new research.

The study, published by HBOS, revealed that worsening affordability is likely to contribute to a modest fall in prices in northern England and the midlands.

However, prices are set to slightly increase in both Scotland and the south-east of England, with, a situation that is likely to fuel demand for rental property.

Colin Kemp, managing director at Halifax Estate Agents, said: "Some areas will continue to be in high demand next year with property prices rising accordingly despite the expected subdued outlook across the market as a whole.

"Those areas that are likely to record the biggest price gains will tend to be those with a combination of good transportlinks to a major conurbation and relatively low average prices."

Areas identified as having particularly significant house price growth, and therefore offering opportunities for buy-to-let landlords, include Lochgelly in Scotland and Hackney in London.

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