UK house prices are expected to rise by 10pc next year, according to the Nationwide Building Society. Latest Nationwide data showed house prices rose 2.0pc in November, and 25.5pc year-on-year. Last December, Nationwide forecast house prices would rise six percent this year. Earlier this week, the country's top mortgage lender, HBOS, forecast house prices would rise 9pc in 2003. Its latest monthly survey found prices rose 1.4pc in November, to be 29.2pc higher year-on-year However, a survey released by the Royal Institution of Chartered Surveyors (RICS) today claims that the UK's booming housing market is finally showing signs of slowing
The RICS survey showed house price growth in England and Wales slowing for the third month running in November, as a net 47pc of surveyors reported price rises, down from 53pc in October and 58pc in September. British house prices have been soaring in recent years as consumers have taken advantage of the lowest interest rates in nearly four decades, boosting consumer spending and insulating Britain from the worst of the global slowdown. ///www.fxcentre.com