House Price Predictions for 2017
The government’s hike in stamp duty on buy-to-let properties has been the greatest factor in the slowdown of the London Housing market, says Simon Rubinsohn, Chief economist at the Royal Institute of Chartered Surveyors.
Experts suggest that the new surcharge, alongside a general rise in stamp duty for £1million+ homes, has had a bigger impact on the market than Brexit. Ed Stansfield, Chief Economist at Capital Economics, commented that the market recovered “remarkably quickly” after the immediate dip following the vote to leave the EU.
Another major factor in pricing is the lack of properties going onto the market. Seller caution means that demand remains relatively high compared to supply, and as a result prices continue to increase overall.
To find out more about house price predictions and property trends for 2017, see the article on the BBC website