If you are buying a house this year it is worth noting that according to industry experts, 2018 is predicted to continue to slow down as a result of many factors including the uncertainty due to the unresolved Brexit negotiations, and the possibility of future rate rises by the Bank of England.
Commentators are penciling in an average of a 1% increase but have suggested that this could come to a halt altogether. London is predicted to see a drop in house prices to a negative figure of around 0.5%, this is after a decade that has seen prices rise by about 70%.
This view seems to be more or less backed up by predictions by RICS, the Royal Institution of Chartered Surveyors, and property website www.rightmove.co.uk and Estate Agents Knight Frank.
The government has tried to stimulate the housing market stamp by a range of reforms to stamp duty, especially affecting first-time buyers, but it is unlikely that it will have that much effect on the overall housing market according to these industry predictions.
Nevertheless, if you are thinking of buying or selling your house in 2018. Courtyard Solicitors are ready to help you through the whole process. Courtyard Solicitors are members of the Law Society’s Conveyancing Quality Scheme and offer fixed rate fees for conveyancing which will give you reassurance and peace of mind during your move.
