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House prices predicted to rise by 5% in five years

Housing market sales were at their strongest in nearly six years in the run-up to Christmas, with surveyors predicting it will begin to "thrive once more". Prices are expected to rise by 5% by 2019, the Royal Institution of Chartered Surveyors said.

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House prices predicted to rise by 5% in five years

The price of housing is expected to rise by 5% by 2019, the Royal Institution of Chartered Surveyors (RiICS) has said.

More housing needs to be built or prices will become "unsustainable". Credit: PA

Research carried out by the surveyors painted a rosier picture of the UK housing market, saying it was beginning to "thrive" again after the 2008 crash.

However, they warned that there was much more demand than the current supply of housing stock could meet and prices risk becoming "unsustainable".

On average, most surveyors made just over 21 property sales in the three months to December, marking the highest average seen since spring 2008.

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