House price growth appears to be at a standstill in 2018, or at best a modest rise in inflation below expectations, as the double shadow of brexit and rising interest rates put the brakes on the property market.
After one year what some call the bland, homeowners and people who want to sell it in the next few months are told that the pressure and pressure is expected in 2018 will be reduced, some critics expected house prices next year may be maintained steady, around 1%.
However, according to the real estate agent Savills (Savills) in the past ten years, house prices rose 70%, London more pessimistic forecast, many economists predict, capital, house prices will fall into negative territory again.
Some commentators are taking the UK’s average price up by about 1 per cent, which means real estate prices actually fall. In running of the two lenders of price index, the Nationwide said, the real estate value is estimated to be 2018 “roughly equal, it may be a slight rise by about 1%, the halifax, prediction of the British economic growth range from 0% to 3%.
Meanwhile, according to a survey of 28 real estate experts released by Reuters last week, home prices will rise by 1.3% and London by 0.3%. The previous figure is less than half of the current consumer-price inflation.
But despite the forecast for most of the language used in the pessimistic – “weak market”, “mute” and “another tough year,” the words and phrases are there – this forecast could be affected by more and more aspiring first-time buyers now cannot afford housing ladder. Many of the owners have been used to put their own property as a money-making machine, some people may find it difficult to different to real estate market analyst at property website Rightmove Miles Shipside assessment, namely “homeowners have a good run” the national average price rose by 31% in the past six years, equivalent to 4.6% per year.
Economists expect a series of factors to weigh on price growth in 2018. Britain is about to leave the eu’s continued economic and political uncertainty, and as the benchmark interest rate at the end of November the possibility of further interest rate rises, rate increase by 0.25% to 0.5%, real wages, weak consumer confidence and mortgage loan to bear ability can be brake of the market.
However, sale of housing shortage and housing weakness could support prices, last month to cancel the first-time home buyers purchase of more than 300000 pounds of all the housing of the stamp duty may encourage those who hope in the ladder – as long as it does not push up property values.
The cut is part of a package of government measures aimed at tackling Britain’s housing crisis and pushing 300,000 new homes a year in the mid-1920s. But the royal institute of chartered surveyors (RICS) said last week that many of the measures had little impact on 2018.
In the forecast for 2018, RICS didn’t took out a number, but said the UK house price growth next year “pause”, and added: “by the end of 2018, the whole of the UK house prices as a whole, a year ago almost no change. ”
RICS, said London internal “pessimistic” data shows that the price of these administrative region in the next few months could be lower, but added that “the negative outlook is no longer confined to central London”, the southeast Asia seems to be “a modest prices”, of course.
Hometrack, a real estate website, said one of the more active projections was the forecast of a 3 per cent rise in overall house prices in the UK in 2018. The top 20 cities in the UK are expected to rise by a further 5 per cent. These cities account for more than a third of Britain’s housing stock. However, Hometrack believes London will reverse the trend: it says it expects prices in the capital to rise 1% next year.
Many commentators have raised prices by 1% in Britain next year. These include Rightmove, whose data are based on asking prices. Its forecasts are in line with forecasts from two prominent real estate agents. Knight frank company predicts that by 2018, Britain’s overall price will rise by 1%, because the British to take off the European economic and political uncertainty increases, but is expected to zero growth in southeast, prices fell 0.5% in London.
Likewise, savills says he believes the average UK price will rise by 1% in 2018. However, savills looked even more pessimistic about the fortunes of the London stock market: the London stock market is expected to fall by 2 per cent by 2018.
Rightmove also predicted a further 2 percent decline in property prices in the capital next year, but it is expected to see a 4 percent decline in high-end property prices in the capital market, mainly for properties of more than 1 million pounds.
Perhaps the biggest cloud hanging over the property market next year is Brexit, which could mean personal finance and a broader economy. Robert Gardner, the country’s chief economist, summed up many people’s thinking, saying the development of brexit was important but “unpredictable”.