13 January 2015
2015 Property Predictions
Analysts are suggesting slower growth in 2015 than was the case in the year just gone. Somewhat rarely, there is near consensus among them on what that growth in property prices will be - about 4%. It suggests that Activity levels are unlikely to change very much in 2015 compared with last year.
It is anticipated that the general election is likely to dampen activity in the housing market until the result is known, but recent changes to stamp duty will have little effect.
Another significant factor in determining housing market activity in 2015 is the level of wage rises.
Martin Ellis, housing economist for the Halifax, says that the first year of consistent above-inflation wage growth for some time could add to demand for homes. However, he too points to the potential effect of the general election and the threat of rising interest rates as keeping that demand in check.
Predictions can always be thrown out by unexpected events, and longer-term estimates must be treated with even more care.
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