Home Residential PropertyLondon house-price growth to slow to 3% in 2015

London house-price growth to slow to 3% in 2015

by LLP Editor
12th Aug 14 8:50 am

Growth of London house prices is expected to slow to 3% next year, according to research by to Hamptons International.

However, this year the estate agent expects house prices to soar by 15.5%.

โ€œA recognition that interest rates will begin to rise before too long has led both buyers and sellers to moderate their expectations of future price growth,โ€ said Fionnuala Earley, director of residential research at Hamptons International. โ€œThis is at a time when the financial position of many households is still stretched as real wages have been falling for five years.โ€

Separately, estate agent Haart predicts house prices to go down as Londoners are rushing to sell their homes.

Haartโ€™s data shows the number of London homeowners looking to sell homes has increased by nearly a third, up 32.3% in the year to July.

Paul Smith, chief executive of Haart, told the City A.M.: โ€œMany homeowners are adopting a now-or-never attitude to take advantage of the continuing strength of the market, having seen their equity rocket over the last year.โ€

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