The property market has been highly cautious in the last couple of years due to the EU referendum vote. With continued Brexit uncertainty, it can be difficult to accurately predict the property market in 2019.
Various predictions were made throughout the build-up to the EU vote from both sides. According to Angela Monaghan, a reporter for The Guardian, UK house prices experienced the lowest annual rate of growth since 2013.
Despite initial concerns that the housing price market could crash after the result of the EU referendum, the average price of a home in the UK continued to increase by 3.2% last year. With the average price £232,797.
Although UK house prices are gradually slowing, the first-time buyers market is at its highest levels since 2006. Popular government schemes such as Help-To-Buy and all-time low mortgage rates have encouraged first-time buyers to invest in new property. Because of this, we anticipate that new builds will continue to reach record numbers for 2019. Read more here.
Hunter Finance specialises in providing development finance that is fast and flexible for your property development. We believe that property development remains a viable investment and with an emphasis on smaller properties for first-time buyers, you may be able to improve profits by building more homes on larger plots of land. Contact us today.
Our Prediction for 2018
It’s the big question on everybody’s mind. The simple answer is we can’t quiet be sure beyond the market predictions that are made.
A recent article on thisismoney suggested that the huge gap between supply and demand will continue to increase house prices.
As the year kicks off we see no real change in the current landscape. Predictions for 2018.
The changes to buy-to-let will change how people design their 2016 developments, but the sale of land and requests for development finance haven’t changed.
We’ve already seen an 80% rise in inquiries compared to the same period last year.