Ends in 2016 and the various analytical agencies continue to make their predictions about the British real estate market in 2017. According to the forecast by the Royal institution of Chartered surveyors, prices for residential property in England will see average growth of 3%. The lack of supply of new housing will continue to dominate the market, what will be the main driver of rising prices. Expected a good the activity of buyers and sellers, which will be concluded around 1.15 to 1.2 million transactions. This is slightly below the record number of deals that the market saw in 2016 1.25 million, but it is necessary to consider that at the beginning of 2016, there was a sharp surge in the number of sales because of the introduction in April 2016 of the increased rates of Stamp duty for investors.
In the regions of England, most likely, the trend will continue in 2016, when the West Midlands and North-West are likely to outperform the rest of England.
RICS also believes that in 2017 a few stabiliziruemost after the recent fall, prices for residential property in London, particularly in Central London, find support from foreign investors who take advantage of the favorable exchange rate of the national currency.
In other parts of the UK, the high price will remain the main obstacle for purchase. This problem is successfully solved those buyers who can obtain a mortgage loan.
The construction industry in the UK is based on major developers, and it hardly represented private construction. Meanwhile, it is important to encourage all types of housing to ensure delivery of an increasing number of properties on the market.
® Alice Morgan. 21.12.2016 G.
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