Modest but positive house price growth predicted in London during 2017
Another week and another price forecast concerning the UK’s property market
The latest set of figures, however, might be from the most unbiased source yet – therefore making them valuable and objective.These figures are derived from Lancaster University Management School’s Housing Market Observatory data. Its analysis is part of a wider project designed to improve our understanding of the UK national and regional housing markets.The university’s conclusion is that house prices will continue to rise in 2017 – with momentum growing throughout the year, despite some predictions. It is thought growth will peak at 3.9% in London, compared to 3.5% for the UK as a whole.Reasoning for the growth lies in two areas: a stable domestic economic landscape and low mortgage rates, which look set to prevail as favourable conditions over the next 11 months.”This latest set of predictions is most welcome,” comments Lurot Brand’s James Robinson – the General Manger at the mews property specialist. “What we like about these statistics is the impartial organisation from which they come, and the wide-reaching factors that have been analysed in order to draw a sensible conclusion.”
It suggests that house prices nationally and all regional property markets will grow this year but at 3.5% this will be slower than the 4.4% recorded in 2016. In London the forecast is slightly higher at 3.9% while East Anglia is likely to have the highest growth at 5.7%.