According to preliminary estimates, prices for residential property in the UK by the end of the year will show growth at 9 %, and next year will grow by 5% .
The estate Agency Strutt & Parker , contrary to numerous forecasts about the cooling market in 2015, expects the price increase .
A slightly more cautious forecast for price growth in Prime Central London. Before the end of 2014, 3% and 2 % in 2015 year. Amid 2010 and 2011, when residential property in Central London rose in price by 13 % a year, which is a substantial reduction in the growth rate of prices.
According to economists Strutt & Parker , the improving economic indicators in the country will contribute to the growth of housing prices over the next several years. The only limiting factor of the UK property market is the uncertainty before the elections in may 2015 related to the introduction of a tax on mansions. Rumors about the introduction of a mansion tax reduce the overall level of transactions on the market and this fact is reflected not only on expensive housing, but also in the construction industry as a whole, including on the affordable housing market.
Another factor that plays on the slowdown in the housing market in the UK – the rumors about interest rate hike by the Bank of England.
The main criterion affecting the health of the housing market in the UK in the coming years will be the amount of new quality housing that will come onto the market.
A particularly strong influence on the market is the market of elite housing in Central London. Now on the market of elite housing construction is a huge amount of new housing, which will reduce the pressure on the market from buyers and will help stabilize prices, which was reflected in the forecast.
In General, the residential property market in the UK during the remainder of 2014 and in 2015 will be sensitive to the political news related to the debate around the mansion tax and a rate hike by the Bank of England.
® Maxim Savitsky. 24.10.2014 g.
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