16% rise in house prices by 2015 says the Centre for Economics and Business Research.
Sounds bad for first time buyers and good for smug homeowners.
But let's not get too excited.
By the official projections (from the Office for Budget Responsibility), inflation will have pushed all prices up by 21% by then, as measured by the RPI.
So - a drop in house prices, in real terms.
The lower CPI will have risen by 13%.