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

Renters’ Rights Act already driving surge in tenant complaints

“Renters’ Rights effect” drives unprecedented demand dispute resolution Industry redress scheme flooded with enquiries ahead of Act going live in May   THE IMPENDING implementation of the Renters’ Rights Act has already led to unprecedented demand for The Property Ombudsman’s services, as more tenants seek support to resolve disputes fairly and independently. In the four…
Read More →
Breaking News

Rights Act: Key changes renters need to know — new rules start on 1 May 2026

The Renters’ Rights Act is a major overhaul of the rules that govern renting in England, the biggest in decades. Propertymark, the UK’s leading body for property professionals, wants renters to understand what’s coming and how it will affect them. The next wave of changes under the Act will take effect on 1 May 2026.…
Read More →
Breaking News

What Would Make Me Stay: How Tenants Are Redefining What Home Really Means

68% of tenants say the single biggest factor that would make them stay in their rental home long term is the relationship with their landlord or agent, above rent levels, location, or the quality of the property itself. That is the headline finding from LRG’s Winter 2025/26 Lettings Report, and it points to something the…
Read More →
Breaking News

Competition for rented homes falls to lowest level in six years

More homes for rent and a drop in demand eases the pressure on renters Competition for rental homes falls to six year low with 4.8 enquiries per property Increased supply sees the number of homes available for rent up 11% on last year Meanwhile demand for rental properties falls 14% year-on-year on lower migration and…
Read More →
Breaking News

Mortgage lending now supports 30% of housing stock

Mortgage lending now underpins 30% of England’s housing stock, rising to as high as 42% in the country’s most mortgage-reliant locations. At the same time, many areas of the market have seen a notable increase in the number of homes owned with a mortgage over the last three years, highlighting the continued strength and resilience…
Read More →
Estate Agent Talk

Is it worth buying a fixer-upper property?

The latest research from eXp UK reveals that fixer-upper homes can be picked up for an average saving of more than £44,000, but when the cost of renovating the property is accounted for do homebuyers actually stand to make a saving? And what chance do buyers have of finding one on today’s market? Fixer-uppers are…
Read More →