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House Price Forecasts and Predictions in the UK

Checkout this weeks house price forecast here

 

House Price Update 1 January 2012

UK House Prices Situation: Prices down nationwide except London

UK House Prices Forecast: Slow start to 2012 with much uncertainty

Prices Fell in 78% of Postcodes in 2011

Prices fell in 78% of UK postcodes in 2011, according to the latest house price survey by Hometrack. It was a different story in London, however, where prices rose in 43% of postcodes.

The most affluent London postcodes saw average increase of 5%, although anecdotal evidence suggests that many of these properties are being purchased by cash-rich foreign buyers, meaning that they are virtually disconnected from the main UK residential property market.

The number of homes for sale grew by 19% in the first half of 2011, according to Hometrack, but fell again in the second half of the year as economic worries reduced the confidence of both buyers and sellers.

Richard Donnell of Hometrack believes that "low interest rates and housing turnover will continue to support prices" in 2012 but that "the overall trend will be downwards". Hometrack is forecasting a 3% fall in average house prices in 2012.

Annual House Price Change Negative Since 2010 – Land Registry

The annual house price change for England and Wales has been below zero since December 2010, according to the latest House Price Index from the Land Registry.

At the end of November 2011, the annual rate of house price change was -1.9%.

Northern Ireland House Prices Fell Furthest In 2011

House prices in Northern Ireland fell by an average of 8.7% in 2011, according to Nationwide, bringing them down to just half the record levels achieved at the peak of the housing boom in 2007.  

This compares to an average across the UK of 10% below 2007 peak levels.

 

 


 

 




 





 



 



 

 

 


 

 

 


 

 

 





 

 






 

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