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Friday, December 19, 2014

2015 property price predictions from RICS

The Royal Institution of Chartered Surveyors have polished their crystal ball, sat around with some tea and biscuits and come up with their forecast for next year's property price growth.

RICS have summoned up the figure of 3% for average UK property price growth during 2015. The figure is in-line with many other industry predictions, maybe more on the cautious side of what appears to be a 3-5% consensus.

London prices to flat-line in 2015

Sorry London, but you're the only area predicted not to see any growth, with RICS perceiving a flat line in the capitals average prices in 2015, but this does follow the stellar growth of recent years. The story is, as ever not quite that simple, with RICS predicting 'wide variations' in London boroughs, with some areas suffering from the recent changes in stamp duty, and the worry is that expensive areas such as Kensington and Chelsea, Westminster, Camden, and Hammersmith and Fulham will more likely see price falls.

Best performing areas

The areas that RICS forecast will perform the best are the North West, South East, West Midlands and Yorkshire and Humber. 

2015 is predicted to be a year when the rest of the country tries to catch up.

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