A dip in London property value predicted
Analysts have forecasted that in 2015 house prices nationwide are set to outperform those in London in 2015 for the first time in six years.
It is expected that UK house prices will rise by 1.5% this year, and values in London will fall by 3.6%. The Centre for Economics and Business Research (CEBR) has attributed the dip in London to the uncertain times of the general election. They don’t think the dip will last for long, and by next year property values in the capital are expected to rise by 2.7%.
Back in January CEBR said that house prices would fall by 0.6% in 2015, but went on to revise this prediction, stating changes to stamp duty in December have made their affects known sooner than first expected.
The author of the report, Nina Skero, said that “…we expect prices to decline by 3.6%, driven by a weakening at the prime end of the market. A potential mansion tax, reduced overseas interest, and hefty new stamp duty rates have hit demand for high value property”.
That reduced interest from overseas is because of heftier stamp duty rates, and the impact of a possible mansion tax. Fewer new buyer enquiries indicate that prices in the capital are set to slip down. This decline in overseas interest would affect outside of the capital much less.
Related Posts:
Get a Free Quotation
What Our Clients Say
-
‘This is just to thank you and your team for the fantastic service during my move from Crouch End to Bexley. Everything was packed beautifully and the crew who moved me were fantastic, remaining friendly and good-humoured throughout. The piano was successfully moved from the first floor and everything arrived intact. It was really worth having the packing service as well, and my stress levels were kept well under control, so well done!’
19th May 2013
-
‘Excellent company – gave me a really good price and fantastic service. We had the full packing service on the Monday, then they finished packing, and moved us on the Tuesday – on time and on schedule. Kav even had five guys on the job, on the Tuesday morning, which kept us on schedule. No breakages, everything was well packed: highly recommended.
We’ll be moving again in the next year, this time with a piano – we hope to use Pers Removals again!’24th June 2013
-
‘Three charming chaps arrived to move my piano from Maidenhead to West London. They took time to plan the moving process and communicated well with each other. They had several steps to cope with inside the house, and a few outside. I was expecting the piano to be bumped about – but not at all. Such care was taken – the piano could have been a newborn baby and would have come to no harm! Now that I have found Pers I will definitely use them again.’
8th January 2014