What will happen to the property market in the UK in 2014?

More predictions about residential real estate market of great Britain for the coming year represent various real estate agencies of the United Kingdom. So, the national Association of real Estate Agencies has published its forecast for 2014. To summarize the conclusions resulting from these forecasts, the housing market in the UK expects a recovery in 2014, which will be accompanied by a substantial recovery in prices and an increase in the number of sales.

Improve the balance between supply and demand that will allow the market to be more flexible, a property search will be faster and less complicated process of moving. And that’s exactly what the market needs right now.

Today, as the number of transactions in the property market in the UK, and prices still lag behind the levels that were on the market before the 2008 crisis.

With the exception of only two regions – London and the South East of England, where prices have long exceeded their pre-crisis values.

In 2014, still own a residential property out of reach for most working families, as wage growth will lag behind price growth. Therefore, it is necessary to take measures that would lead to the market new buyers. Among the main measures is the revision of the outdated system of charging Stamp duty, as well as the lowering of the threshold for initial contribution for those who first buys a house. Such buyers in the market is less likely and should be encouraged their desire to become owners of the house or apartment.

Meanwhile, the market in 2014 will still be a lack of new facilities, especially for new family homes, the construction of which is often neglected developer. Demand continues to exceed supply and will be very noticeable shortage of new housing. Definitely market the need for a higher pace of construction.

In recent days there is talk of early rise in Bank of England interest rate, which can be a natural brake to prevent the high demand from investors, but to significantly improve sentiment in the property market in the UK in 2014, only increasing new supply on the market will give a positive impetus.

® Eleantra. 05.12.2013 g.