The British press, which publishes forecasts on the real estate market, have been increasingly published careful reports that in 2015 the property market in the UK waiting for the slowdown.
Centre for Economic and Business Research has led your analysis of the UK property market and has published its forecast.
According to published data, in 2014, property prices across the UK will show the strongest growth in recent years, and in 2015 we can expect not only a slowdown, but maybe the price drop.
In 2014, the expected average growth rate at 7.8%, which is two times higher than the national average growth in prices seen last year at 3.5%.
The so-called leading indicators of prices already point to price declines in some parts of the UK. Against the background of improved supply of new housing is a fact of reduction of queries from customers that has led to what some real estate stagnate on the market longer than usual.
Improving the availability of objects, as well as folded more rules for mortgage lending will lead to lower growth of prices in the short term.
The increase in interest rates by the Bank of England also expected to cool the ardor of buyers. Though the head of the Bank of England and says that raising interest rates will be gradual and invisible to the market, and the rates will still remain below the pre-crisis, even the rumors of the increase in rates has already begun to scare off potential buyers and many of them refrained from making a purchase.
However, the overall long-term projected trend for the housing market is UK – positive – after a small decline in 2015, in 2015 the market will grow again – presumably by 2.6% in 2016, 3% in 2017 and 2.7% in 2018.
® Maxim Savitsky. 07.10.2014
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