4.1 • 650 Ratings
🗓️ 8 January 2018
⏱️ 3 minutes
🧾️ Download transcript
House prices are coming off the boil, but it is London and the South East that are suffering, while some regional cities do well.
But what happens next?
Simon Lambert takes a look at the house price forecasts for 2018 and whether property will rise, fall or flatline in the year ahead.
Click on a timestamp to play from that location
0:00.0 | Simon, house prices, you spoke to some experts about their predictions. What are they telling you? |
0:03.9 | Well, the suggestion has been that prices might flatline. A recent poll conducted by Reuters, involving |
0:08.9 | 28 housing market specialists, said that property prices would rise by 1.3% nationally. |
0:15.1 | We had nationwide come out and forecast a 1% rise. The Royal Institution of Chartered Surveyers believes house price growth is likely to come to a |
0:23.1 | halt in 2018 across the UK in general. |
0:27.1 | Home Track says regional cities will boom while London realigns. |
0:31.7 | Sarah Beeney has gone for prices will rise 2 to 3%. |
0:37.3 | Savils has also gone for house prices to rise next year, except for London. |
0:41.4 | It says that house prices will fall 2% in London next year, but all other areas will see a slight increase. |
0:47.5 | And Henry Pryor, who is always a man worth listening to on all things property, because his job is to buy properties for people, |
0:55.3 | which means that he does an awful lot more actual activity in the property market than most |
0:59.6 | people does, has given us one of his typical lines where he says, house price forecasts only |
1:04.2 | exist to make astrology look credible. But for what it's worth, I think that London house prices |
1:08.9 | will sink lower in 2018, falling on average by another 5%, while nationally prices will be pretty flat. |
1:16.6 | I expect UK house prices to end up 2% lower in 12 months' time. |
1:20.4 | The quicksand in 2018 will be towards the end of the year, I fear. |
1:24.8 | Who is going to want to commit to their biggest single purchase in the six months leading up to our departure from the EU in March 2019? Many buyers will wait until the dust |
1:33.9 | settles. And I think that's very true. I think it could go one of either two ways. I think the market |
1:39.6 | could suffer this year. You generally find with these things, things don't tend to just stay steady. They |
1:45.6 | either go up or they go down. But it might go down by a small amount. Well, you might actually find |
1:50.2 | that this stamp duty cut for first time buyers does actually give it a kind of a final leg up. And you |
1:56.3 | might get this pause for breath, certainly that's been going on in London for a while. This puts |
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