Half way through next year they’ll all be revising their housing forecasts upwards or downwards – but that doesn’t stop them making forecasts now, even right down to the last bold detail.
And not just for next year but for the next five!
Step forward JLL, which is forecasting 5% house price growth across the UK next year, with annual growth of 3-5% per year over the next five years.
Strutt & Parker has also issued its forecasts for 2015 to 2019.
It is forecasting 19.8% house price inflation for London between now and 2019, down to 10% for the north-east.
It reckons the biggest area of growth will be the east of England at 22.8%, closely followed by the south-east at 22.7%.
Honestly, just 0.1% in it over the next five years!
According to Strutt & Parker, every region will show house price growth between now and 2019.
It has also finalised its house price predictions for this year, led by the east of England (7.1% growth), with the south-east at 5.8% and London at 5.1%.
The lowest growth is predicted to be in Wales (2.6%) and the north-east (2.7%).
Meanwhile, Lancaster University has issued a report, UK Housing Observatory, which warns that London is on the cusp of a housing bubble which could progressively ripple outwards to the rest of the UK.
The report suggests a housing market bubble in London could pop the year after next.
The report says: “Historical evidence suggests that phases of exuberant house prices are often followed by a sudden crash, leaving home buyers with large mortgages and negative equity.”
I wonder how much the media drives the bubble and burst cycle in UK property?
Jason McClean
http://www.thepropertyinsurer.co.uk
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