With Nationwide, Rightmove and Savills predicting that house prices will only increase by 1% and Countrywide quoting 2% in 2018 we at Peter Scott Property think that this could be a great time to consider moving to that larger home. With a slow down in price rises that dream home becomes more attainable.
The most optimistic prediction comes from the business consultancy Price Waterhouse Coopers, which gives a forecast for between 3 and 4 per cent growth in the mainstream UK-wide housing market in the next 12 months. However, they caution that, the final housing release of 2017 data from the Office for National Statistics, shows a weakening in the market from the previous month. House price inflation fell to 4.5% in the year to October 2017, from a downwardly revised 4.8% in September.
Peter Scott added "Whilst all this doesnt sound fantastic news for continued high price growth, most property owners would agree that the last few years has been quite kind. Its better to have a period of modest growth or even a flat line to assist with the overall gradual curve up. Buyers looking to up-size have always told me in the past how the next big house move always seems to be moving away at a faster rate - well now could be your chance! "
If you would like more advice on moving home please contact us at Peter Scott Estate Agents on 01753 201 232 or email me at email@example.com