Researchers at property consultant FPDSavills are forecasting that the value of the average house will rise by 2% during 2005, the lowest level of growth for nine years, because of affordability issues. But an early move to reduce interest rates could result in values rising faster, by up to 5%. <p></p><p>"The very strong growth in house prices over the last three years has made the housing market highly sensitive to changes in interest rates," said Richard Donnell, FPDSavills head of residential search. "Higher rates and general negative sentiment resulted in a considerable amount of steam being taken out of the market over the summer and early autumn of 2004." </p><p>Donnell pointed out that the recent weakness in key lead indicators such as mortgage approvals data is the result of would-be buyers "sitting on their hands" waiting for a clear direction on interest rates.</p>