Fri 6 Jan 2017
At the beginning of every year we all try and consider predictions for what he next 12 months will bring.
So what does the year ahead have in store for the UK housing market?
Much like 2014, 2015 and 2016, the UK will begin the new year with a degree of some uncertainty but some optimism especially outside London.
Buyers will be able to continue to take advantage of low interest rates.
History suggests years of low transactions are almost always followed by years of increased activity.
Nationwide, house prices are predicted to rise by 3pc over 2017, according to the Royal Institution of Chartered Surveyors (Rics), with East Anglia, the North West and the West Midlands recording higher gains than the national average. This should provide great comfort to potential buyers in and around Chester.
“The supply pipeline or lack of it is at the forefront of the analysis and dominates the residential market,” Rics say. Good news this for sellers.
Meanwhile the Government is facing renewed pressure to reduce stamp duty. This has been a big bug bear for so many buyers and has hit the buy to let market since last year’s budget. Any help the government can give will be welcomed.
So whilst the picture isn’t entirely clear we at Changing Home are most optimistic for the year ahead. The North West does look to be favoured for the year ahead and of course within the area Chester retains huge popularity.