UK house price growth slows in last quarter of 2014.

December 31, 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

Breaking News

Mortgage rate rises loom as major lenders reprice

Major lenders have moved to increase mortgage rates to catch up with recent rises to swap rates, according to Moneyfactscompare.co.uk analysis.   Over the coming days, more lenders are expected to review mortgage rates in response to higher swap rates, with HSBC and NatWest so far the biggest banks to increase rates since the start…
Read More →
Breaking News

Average house price edged down in August

House prices in August 2026 were -0.4% lower compared to the same month a year earlier.   Average house price edged down in August as market remains subdued • House prices fell slightly in August ( -0.2%), following a -0.1% decrease in July • Average property price now £298,468 compared with £299,153 in July •…
Read More →
Estate Agent Talk

A derelict property will still set you back £240,000

The latest data from LandSale, the property portal dedicated to land and rural property, reveals that buyers looking to breathe new life into a derelict property could face an asking price as high as £237,500 on average, highlighting the substantial value still attached to redevelopment opportunities across Britain.   Britain continues to struggle with a severe…
Read More →
Estate Agent Talk

Selling an Inherited Property in Scotland: A Clear Guide

Selling an inherited property in Scotland can begin only once confirmation, the Scottish equivalent of probate, has been granted by the court. Until that legal authority is in place, the executor cannot complete a sale, so grasping the sequence early saves later frustration. Families who would rather not manage a long marketing process sometimes approach…
Read More →
Breaking News

Breaking Property News 3/9/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   The imminent interest rate hike is going to be a real reckoner for property   When interest rates rise again, Britain’s housing market will discover what it is really worth   Thought Leadership by Andrew Stanton CEO Proptech-PR For more than a decade, Britain’s housing…
Read More →
Breaking News

Tenancy deposit reform overlooks estimated £750m

As the Government considers reforms to England’s tenancy deposit system, The Letting Partnership is warning that one major question remains almost entirely absent from the debate: what happens to tenancy deposits that are never reclaimed? While current discussions have focused on how deposits should be protected in future, namely custodial vs insured schemes, far less attention…
Read More →