15 Nov

House prices ‘likely to maintain growth in 2014’

House prices ‘likely to maintain growth in 2014’

The back end of 2013 has shown a significant increase in both transaction and house prices, according to Knight Frank’s latest property index.

Estate agents will no doubt see this trend as a positive factor, as the figures indicate much of the same for 2014.

The research from the firm also states that homes in London will see the strongest price growth over the next year.

Values in other regions will also continue to rise with East Midlands expected incsrease by 7.3 per cent and the north-west to make a recovery of 7 per cent next year.

Grainne Gilmore, head of UK residential research at Knight Frank, believes that the Help to Buy scheme will also help the residential property sector.

“We expect these government interventions to have a positive impact on sales volumes in the coming years, although we anticipate a temporary deterioration in transactions after the Help to Buy scheme ends in 2016,” explained Ms Gilmore.
Overall, Knight Frank expect the average price of UK houses to rise by 24 per cent by 2018.

 

 

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