Mortgages -
HBOS lists 'housing hotspots' for 2008 - 31/12/2007
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HBOS, owners of mortgage providers Halifax, announced today that it predicts "flat" house price growth for 2008.
The financial group, however, has identified property "hotspots" for 2008 - which will see strong growth being maintained in spite of the stagnating market elsewhere.
HBOS blamed the slackening nationwide market - including price falls in the north and in the midlands - on "worsening" affordability and the "weakening" economy.
The Scottish towns of Lochgelly, Greenock and Aberdeen, the London borough of Hackney and the south east communities of Chatham and Dartford are all to show strong growth.
Liverpool, along with Newport and Pontypool in Wales, was also listed as a hotspot.
Colin Kemp, managing director at Halifax Estate Agents, commented: "Some areas will continue to be in high demand next year with property prices rising accordingly despite the expected subdued outlook across the market as a whole.
"Those areas that are likely to record the biggest price gains will tend to be those with a combination of good transport links to a major conurbation and relatively low average prices."
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