January 29, 2007 | posted by Michael Baxter in IABN |

The property bulls are moving up our garden paths, and grazing from the grass before our living room windows.

Today has seen the release of two pieces of information on the property market that could be enough to have the property bears going the same way of polar bears.

First there is the Centre of Business and Economics Research.

According to CEBR, your average house price will rise by £1,000 per month this year.

For homeowners, it will be possible to rake in the bucks, even if they stay in bed all day, with CEBR predicting a 7.6 percent rise in house prices this year, at least that’s what it told the Observer.

John Ward, one of the report’s authors, said: “The underlying fundamentals of the housing market continue to support prices.

“Even though interest rates may act as a dampener on the market people are spending considerable less of their incomes on mortgages than in the early 1990s.

“Furthermore, in many parts of the country, shortages remain acute.”

Meanwhile, according to Hometrack, January saw the highest level of house price inflation for three years.

London seems to be the focus of the latest explosion in prices, or so says Hometrack. The surging market in the UK’s capital combined with a shortage in supply is creating the latest boom.