Page 1

Property Outlook For 2017 As 2017 arrives, and we say goodbye to 2016, we enter the New Year with slight apprehension and a paused breath, as the United Kingdom prepares itself for more uncertainty in the housing market. Britain has had many changes affecting the property market, deepening the crisis that has plagued this sector for a long time. Let’s review what the UK property market has had to deal with this year and what it means for 2017.

The Guardian has noted in an article in the last month of the year that house prices continuing to rise on a yearly basis has contributed to the worsening housing market. However, growth has slowed due to a shortage in homes going up for sale, according to data released by the Royal Institution for Chartered Surveyors (RICS). In its records, it has reported a fall in the number of properties coming on to the market in the last several months, whilst the numbers of buyers has risen since June 2016. RICS has predicted that next year that growth will fall by 3%, as chief economist for the professional body, Simon Rubinsohn says that this year had been characterised by the stamp duty change back in April. ”The stamp duty impact has been a much bigger factor in the profiles of activity over the year than the referendum,” he continues. The article also makes mention of the affects of the luxury market from the stamp duty hike, with sales of homes over £1 million slowing to a halt, as well as uncertainty from Britain’s decision to depart from the European Union in the referendum in June of this year and high inflation proving to further deteriorate conditions in the housing market…………………………………

For complete article please :continues reading

Property outlook for 2017  

As 2017 arrives, and we say goodbye to 2016, we enter the New Year with slight apprehension and a paused breath, as the United Kingdom prepa...

Read more
Read more
Similar to
Popular now
Just for you