UK house price growth slows in last quarter of 2014.

The Guardian reports that according to the Nationwide Building Society  UK house price growth slowed sharply in the last 3 months of 2014, this cooling off of prices was most apparent in 3 regions of the UK..the north west..Yorkshire and Humberside..and Wales where it was recorded that there were outright price declines in the final quater of 2014. On a better note, generally house prices ended the year 8.3% higher than 2013, this price increase may well be exagerated by the fact that London was particularly strong, house prices in the capital are approx 35% above their former 2007 peak.
Furthermore “Nationwide’s chief economist, Robert Gardner, said: “All regions except the north of England saw a slowing in annual price growth in the final quarter of 2014. London was the top performing region for the second year running. Yorkshire and Humberside was the weakest performing English region, with prices up 1.5% over the year”
Where do we go from here in 2015? what will we be reporting on house prices this time next year? The stamp duty changes announced by Chancellor George Osborne which will involve 98% of house buyers paying less tax may only have a limited impact on the slowdown in house price growth, stricter mortgage rules will definately have an effect in reducing the number of mortgage approvals. The up and coming election will more than likely create an air of uncertainty and buyers may hold back from committing to their purchase till after the election, it may not be all over by then as we may face the possibility of another coalition, that will be very interesting! Most are however positive about the fact that we will see further gains in prices in 2015, I go along with that but may not be as much as some people are expecting.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

small house bird box
Breaking News

UK First Time Buyers better off than many other global nations

Is it really that bad being a first-time buyer? UK better off than many other global nations when it comes to affordability The latest market analysis from Yopa, the full-service estate agents, reveals that first-time buyers (FTBs) in the UK may be paying 63% more to get a foot on the property ladder than they…
Read More
new build homes colchester essex
Breaking News

Building Safety Regulator Reform

The Government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower enquiry. David Smith, property litigation partner at London law firm Spector Constant…
Read More
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More
Breaking News

Mortgage approvals bounce back in May

The latest figures show that: – Mortgage approvals on house purchases for May sat at 63,032 up 3.9% from 60,656 in April. The monthly increase seen in May marks the end of four months of previous decline, with approval levels having fallen each month since January of this year. Approvals are also 2.5% higher than…
Read More
Breaking News

Money and Credit – May 2025

Key points: Net borrowing of mortgage debt by individuals increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in April. Net mortgage approvals for house purchases increased by 2,400 to 63,000 in May. Approvals for remortgaging also increased by 6,200 to 41,500…
Read More