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Rents are likely to rise 2.5 per cent in 2019, then 3.0 per cent in 2020 and a further 2.0 per cent in 2021 according to Countrywide.
In a prediction report issued by the agency group’s upmarket brand Hamptons International, rents are expected to rise over the next three years roughly in line with average earnings - which is sharper than rent rises over recent years.
Countrywide says weaker economic conditions across the UK, affordability problems for buyers and stringent lending conditions mean demand for the rented sector will continue to grow.Full/source article
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I would expect nothing less from country wide
Learn Change and Adapt ?????
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The housing market in the UK has performed in line with expectations over the past year with prices set to be stable in 2019, according to an end of year analysis for lender the Halifax.
The report points out that 2018 growth has been at the lower end of it’s forecast of 0% to 3% growth for the year.
It predicts broad stability for house prices in 2019 with growth of between 2% and 4% price inflation, although it warns that this will be dependent on the outcome of Brexit which takes place at the end of March.
It also points out that the current shortage of homes for sale and low levels of house building will continue to support high prices in 2019 and this will constrain demand
‘The housing market in 2018 followed a similar trend to recent years. In line with our expectations, house price growth slowed whilst building activity, completed sales and mortgage approvals all remained relatively flat,’ said Russell Galley, managing director of the Halifax.
‘This was driven by a combination of continued uncertainty regarding the future growth prospects of the UK economy, and the ongoing challenge faced by prospective buyers in building up the necessary deposits,’ he explained.
‘Looking ahead, aside from the obvious political and economic uncertainty, the biggest issue for the housing market in 2019 will be the degree to which mortgage payment affordability changes. Average pay growth is likely to gather pace but, with a further interest rate increase also predicted, house prices are unlikely to be pushed significantly in either direction,’ he pointed out.Full/source article
An article in the Independent forecasts a largely positive outlook for the UK property sector, particularly with regards to the London property market and the private rented sector!The Future of the UK Property Market
Zoopla take a look at how housing markets in different parts of the UK are set to perform in the year ahead.2019 property market regional forecast
When you factor in the inflation we could see a drop in the SE of 10%
can you imagin the impact on the FTB market alone
and this is only the start
my own feeling is within three years we could see a 35% correction in prices
It’s worth looking back to compare with what we were saying at the end of 2016 / beginning of 2017