House prices, a key driver of the UK’s consumer economy, are continually fluctuating and remain somewhat of an obsession, with more homeowners tempted to learn the value of their property and sell their house quickly.
So what will happen next in the property market? Vivo Property Buyers’ founder, Rupert Beak, reveals his predictions for 2015.
The bubble won’t burst
Previous trends in the property market lead us to believe that the bubble isn’t going to burst just yet. Instead, we envisage it gently deflating over the next couple of years at a much more manageable pace.
Your money will be safest in the South East
With Londoners moving out of the city in search of better value for money, the South-East in general will start to see a significant rise in property prices.
Money will be best spent in the Home Counties where buyers can look to get a return of over 26% by 2019. The East of England is also set to perform well with a return of 25%.
1-3% growth in London
While a lot of professional bodies predict no further growth in London this year, we’re anticipating a 1-3% increase in the capital.
4% average increase in the UK
We foresee the rest of the UK outperforming London with an average rise of 4%.
London property prices will drop
If a mansion tax comes into play, this is highly likely to have a negative effect on the value of properties in and around London.