D_Property

As every property expert in the land prepares to unveil their predictions for the market in 2017, it seems there is some consensus as to the general shape of the next 12 months.

Nobody is predicting any great moves in prices for 2017, with a seeming period of quiet while the market waits to see how Brexit will affect the whole economy.

“While 2017 is set to be an uncomfortable year for the property market, I do not believe there are any major indications of a housing crash occurring,” said Will Herrmann, director of property developer West Eleven, told Estate Agent Today. “There are a number of significant headwinds in place within the industry to ensure that deals are slow, but nothing is big enough to completely pull the rug from under us.”

He added: “I do, however, expect 2017 to start much as 2016 is finishing: people trying to do business in the aftermath of the EU referendum. I think that the impact of Brexit will continue to be tempered by a stream of just enough bad news that people will hold back from making decisions on big capital outlays.”

Savills forecast that average UK house prices are expected to remain stagnant in 2017, before increasing by 2% in 2018 and 5.5% in 2019 to a total of 13% by the of 2021.

Knight Frank forecast that the slowdown in prices which has been evident in central London over the past 12 months will spread to the wider region, with Greater London prices down marginally in 2017.

Meanwhile, one region of London may well see fewer estate agents on its High Streets in future following moves to limit non-retail conversions for commercial premises. Westminster City Council has taken action to prevent its high streets from being overrun by non-retail businesses like estate agents.

Source: www.buyassociation.co.uk

January 4, 2017
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2017 property predictions begin to emerge

As every property expert in the land prepares to unveil their predictions for the market in 2017, it seems there is some consensus as to the general shape of the next 12 months. Nobody is predicting any great moves in prices for 2017, with a seeming period of quiet while the market waits to see how Brexit will affect the whole economy.
January 4, 2017
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UK property market ends 2016 on a positive note despite Brexit

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British expats are buying up London and the South East

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Value of UK housing stock went up by 7% in 2016, to £8.17tn

The average British property has increased in value by £56.67 a day in 2016, Zoopla has revealed. The overall value of the UK’s 28.9 million homes has risen by more than 7% in 2016 to a total added value of £8.17tn, a new research has revealed. The year’s biggest winner is, according to Zoopla’s study, Diss, a market town in Norfolk with an increase of 16.2%. Zoopla analysed all their price data between 1 January and 7 December 2016 and came to the conclusion that Britain’s housing stock now has got an overall value of £8,165,502,086,907. This is an increase of £559bn since January. When it comes to regions, the report states that England’s East has…
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