House prices look set to hold steady next year, according to house builder Berkeley Group.
It says a shortage of properties combined with high levels of consumer confidence means prices will probably be sustained in 2000, regardless of interest rates.
The group is forecasting price rises between 5 and 8 per cent across the UK next year.
Berkeley Group managing director Tom Pidgley says: “The housing market has been strong in 1999. On balance we tend to be conservative, 5 to 8 per cent, but believe we will see a very steady market next year.”