Cheap money likely to push up UK house prices in 2016

London

LOW borrowing costs and a shortage of supply will drive UK house prices up 6 per cent next year, according to the Royal Institution of Chartered Surveyors.

Demand for housing remains strong, driven by record-low interest rates and a resilient economy, and values grew an annual 7 per cent in October, according to the most recent data from the statistics office. Chancellor of the Exchequer George Osborne is attempting to boost supply and announced additional spending on housing last month.