G
gih_hk
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The housing market saw a spring and summer sales surge particularly in the capital and the South of England before activity dropped away a little towards the end of the year.
With the announcement of Stamp Duty Land Tax and the discussion of Property Tax home buyers and property investors have also been rushing to complete transactions before April of this year boosting sales for properties worth £250,000 to £600,000. Overseas London property investments have also made a great impact on the high-end market that contributed to double digit growth in Central London and the South East.
Numbers from the Nationwide Building Society suggest that UK house prices rose 7.2% in 2014 which is significantly higher than the estimated figure from the Office for Budget Responsibility of 5.2%.
Growth Predictions
Knight Frank predicts that sales growth in London from 2015 to 2019 will be 25.8%. This is, of course, uncertain and the results of the general election will dictate the confidence of resident and overseas investors in the London property market.
With the announcement of Stamp Duty Land Tax and the discussion of Property Tax home buyers and property investors have also been rushing to complete transactions before April of this year boosting sales for properties worth £250,000 to £600,000. Overseas London property investments have also made a great impact on the high-end market that contributed to double digit growth in Central London and the South East.
Numbers from the Nationwide Building Society suggest that UK house prices rose 7.2% in 2014 which is significantly higher than the estimated figure from the Office for Budget Responsibility of 5.2%.
Growth Predictions
Knight Frank predicts that sales growth in London from 2015 to 2019 will be 25.8%. This is, of course, uncertain and the results of the general election will dictate the confidence of resident and overseas investors in the London property market.
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