For many British homeowners the value of their homes has risen hugely over the last six years, the average is 30.9%. And Rightmove is predicting that house prices across England and Wales will continue to rise by 1% in 2018, although there is much talk about more of a stabilising of London house prices.
Analysts at Rightmove, which claims to list 90% of estate agents’ properties, said they expected the price of two-bed or fewer properties, which are typically bought by first-time-buyers, to increase by 3% in 2018. The site also said it also expected non-detached homes with three or four bedrooms, so called second-stepper homes, to increase by 2% over the next 12 months.
The websites recent report is echoed by Goodfellows, who last month also predicted that average prices would experience a rise in 2018.
Miles Shipside, Rightmove’s director and housing market analyst, said “we estimate that 2018 will continue this year’s trend by being a real mixed bag of different price pressures, both up and down. “Increasingly stretched buyer affordability, exacerbated as intended by tighter lending criteria and increased stamp duty for second home-owners, is taking its toll on upwards price pressure. It is aided by a slowdown in the higher-end markets, with the influence of a readjusting London being a weighty factor on the national averages.”
If you are looking for an estate agent in Surrey and South West London who are always one step ahead of the market then why not pop into your local branch of Goodfellows for a chat and a coffee or call our team on 020 8640 3330.