So it was the first week back for many last week (this poor writer had to work over Christmas) which means it is property prediction week for the year ahead! We’ve had all sorts but in the interest of saving space:
A few economists are predicting that all asset prices will fall this year (including houses) as cheap credit slowly disappears from the market.
Halifax are predicting bullishly as always that house prices will rise by 5% and more.
All the big agents have plumped with 5% as a figure for house price inflation.
Stamp Duty rise and tax changes to end buy-to-let
In April, stamp duty rates are going to take a jump for second home owners and buy to let landlords. This coupled with the tax privilege erosion that are entering in 2017 is making buy-to-let investment a stickier path. This should reduce some demand for homes and potentially mean good news for first time buyers. Alternatively it will squeeze the private rental market and lead to rent inflation. More good news then!
Newham biggest urban house price rise in 2015
The London Borough of Newham that we featured in October last year saw average house prices rise 22% in the space of a year. That is nearly double the London average of 12% for 2015. We can thank Halifax for that research.
UK Councils to receive millions to boost house building
Housing Zones all over the UK are now finally receiving the millions they need from government to kick start work on the building of thousands of homes. The £6.3m is a small drop in the ocean compared to the £1.2bn Starter Home Fund which is to help clear up brownfield sites ahead of house building but is there to speed up work allowing local council to work closer with private property developers.
We highlighted last week the amount of properties that have planning permission so fingers crossed we can see some tangible results and some new homes built in 2016.
Buying and selling a home second most stressful life experience
Which? Have released survey results which highlight just how stressful selling and buying a house is. We know, we sell them every day and it’s stressful work! Which is why you need the right people on your side. Even our most junior team member has now sold more than 45 properties – that would take about 3 years to gain that much experience on the High Street.
Thanks to Property Wire for that gem: http://www.propertywire.com/news/europe/uk-buy-sell-stress-2016010811408.html