The Year ahead…….
Activity levels are unlikely to change very much in 2015 compared with last year, according to Ray Boulger, from mortgage brokers John Charcol.
His house price prediction for 2014 looks to be among the most accurate, and in 2015 he has suggested – like many others – that UK house prices will grow by 4% on average.
He says that the general election is likely to dampen activity in the housing market until the result is known, but the recent changes to stamp duty will have little effect. He also says he will not be surprised if the Bank rate – a key factor in determining the level of mortgage interest rates – could end the year at the current, record low level of 0.5%.