Are we heading for another record year for the UK property market?

[Nicholas Wallwork]

According to the most recent figures released by the Office for National Statistics, last year was a record year for UK property owners. House prices rose by £2,221 a month in 2014. This means that the average UK home is now worth £272,000; a 9.8% rise on the previous year. Owning a UK property throughout [...]

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[agnieszka7773]

I would be very surprised if 2015 is better than 2014 when it comes to value increase. With prices so high already it cannot go with this speed - who will be able to afford to buy? However after General Election we will be able to tell more

 

[George79]

Demand is still high and my predictions are that around London area will be even more first time buyers in 2015.

 

[Barny]

I would be very surprised if 2015 is better than 2014 when it comes to value increase. With prices so high already it cannot go with this speed - who will be able to afford to buy? However after General Election we will be able to tell more

I think you're right in that the general election will ultimately set the path of property prices will go for the next few years.

There are rumours different parties are going to implement more affordable housing, while others are talking of lowering deposit requirements and / or interest rates but even with these changes, the overall demand for properties is likely to increase if the newly elected government do something to help buyers and therefore you'd have thought this will therefore impact the price?

Will be an interesting period after the election for sure!

 

[agnieszka7773]

It is very difficult to predict the end of 2015. Number one - election promises are only promises, number two - prices will be affected mainly by first time buyers - will they buy in a hurry or decide to wait? In May and June we will see prices going up. All the people who withhold themselves because of the Election uncertainty will be back searching for the property. If you want to grab a bargain now is the time.

 

[Jonathan Rolande]

Difficult to say as the world is in such turmoil but we anticipate a UK wide 5% increase this year which will probably equate to a London increase of circa 8%

 

[londonpropertyanalyst]

Expect 2015 to be roughly flat or small single digit growth