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Firm Finds Reasons to be Cheerful About Residential

LONDON-The UK market for houses and flats is set fair for the next 10 years, says Baring Houston & Saunders. The growth in population is set to outstrip the new home development.

By Charlie Jacoby | Updated on June 25, 2002

LONDON-UK property asset manager Baring, Houston and Saunders is bucking the trend of gloom among residential commentators. The firm says it is confident that house prices will continue to rise in the long term.

It bases its confidence on a growing population oustripping current low rates of development. With the UK population growth forecast to grow at 0.3% (213,000 people) a year, the number of households will grow from 21 million last year to 22.5 million in 2011. The Housing Builders’ Federation says an extra 40,000 new homes will need to be built each year to meet this growth.

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