What has been happening to house prices in 2015?
- Published: Monday 28 September, 2015
- Category: Housing market
- By: Commercial Trust
- Updated: Friday 08 July, 2016
Predictions are great fun so we wanted to know how the experts got on with predicting what would happen to house prices in 2015.
There are many elements which are affecting house prices currently. We have picked some of the most influential and interesting below.
The BBC used an expert property panel in 2014 to canvass opionion on what we could expect in 2015. Overall the predicitions put the estimated price growth at 4%. You can read the full predictions on the BBC:
Actual house price growth in 2015
The Hometrack UK Cities House Price Index has year-to-date growth at 6%. In the report you can see that only Aberdeen has experienced negative changes, most likely as a result of the downturn in the oil industry.
London, Cambridge and Oxford are the biggest contributors to the 6% rise. The biggest talking point of the report is the rise of the average London price differential to a 20-year high:
If food prices had grown like house prices...
What would happen if the historical prices seen in UK property were applied to everday foodstuffs?
The team at Right Surveyors - Colchester created an infographic to show us...
New home registration is up in 2015
The National House Building Council has advised that 106,887 new homes were registered in the year to date at the end of August 2015.
According to the Halifax and Daily Mail, some of the largest price rises by property type have been in flats and apartments, which account for nearly 50% of property sales in London.
From the Halifax data it looks like first time buyers are moving towards other property types and are bypassing the traditional flat / apartment first step on the ladder.
You can study the numbers from the NHBC, which go into more detail on the split in new home registration between public and private builds.
Types of new properties being built in 2015
The NHBC figures show that semi and fully detached new homes are on the increase, whilst new flat builds have slowed in pace.
2015 sees a change in property buyer types
The Guardian picks up on the Hometrack report, highlighting that the number of prospective buyers in 2015 who had a property to sell has fallen dramatically, helping in turn to increase prices as available housing stock decreases.
Other house price news
The team over at veyo.co.uk have pinpointed some interesting related news to current house prices.
They cite a Rightmove article which identifies a 20% surge in demand for London property and a 30% share of buyers who they classify as investors rather than residential purchasers.
Let us know how the changes in house prices and available stock are impacting your buy to let strategy.
This information should not be interpreted as financial advice. Mortgage and loan rates are subject to change.