2015: What’s your prediction?
In the past couple of months, several articles have been published, predicting how the housing market will change when we reach 2015. Keeping account of all these predictions can be quite difficult and confusing for many property professionals. Therefore, we’ve summarised all of these predictions.
Recently, the Daily Mail predicted a fall in house prices when we reach 2015. They go on to explain how a turning point is likely to occur, as prices will slip by 0.8% during 2015 as well as highlighting how these figures are national averages and do not represent the whole of the UK. Back in August 2011, the Daily Mail predicted house prices to rise to an all-time high by 2015 with an average price climbing 14%. Both of these predictions clearly establish how the market is continually changing and becoming even harder to predict.
Similarly, the Guardian predict UK house prices to fall as we enter 2015. They go on to state how house prices will start to fall by 0.8% in 2015 just as the Daily Mail predicted. It is quite clear how the Daily Mail and the Guardian are both predicting a turning point in the housing market.
Back in January, Reuters predicted house prices to rise until mid-2015. This rise will be the start of a broader upturn in housing market activity. They go on to explain how during 2014 the housing market had been hit with a financial crises and so would start to catch up with rising house prices by 2015. In total contrast to the Daily Mail’s and Guardian’s predictions, Reuters go on to explain how house prices will continue to rise and start to strengthen the economy.
International Business Times
The International Business Times reported some interesting statistics about the 2015 housing market. The statistics reported by the International Business Times and Knight Frank reveal UK house prices to slow down and only rise by 3.5%, compared to double digit growth the industry has recently been experiencing. They go on to report, by 2019 a surge in house prices by another 18.2% throughout 2015 to 2019.
Property Industry Eye
Lastly, the Property Industry Eye report similar findings to the Daily Mail and the Guardian, as they predict house prices to fall by 0.8% throughout the 2015 period. Whatever change we see in the housing market, we hope the current industry remains stable and continues to aid property professionals to grow in the current industry.
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