The CEBR propose this year's final house price growth rate will be a hearty 7.8%, doubling last years growth of 3.5%, but believe a small dip in prices will see a fall of 0.8% in 2015.
The CEBR consider the likelihood of a small interest rate rise will also slow the property market.
Longer term, the CEBR remain relatively confident about house price sustainability, seeing a return to growth by 2016, of 2.6%, followed by approximately 3% growth the years 2017, 2018, 2019, with a step up to 3.4% in 2020.
The CEBR uses Office for National Statistics (ONS) data.
Scott Corfe, head of macroeconomics at CEBR, said: ''Tougher mortgage eligibility criteria, high deposit requirements and concerns about future rate rises are starting to take the steam out of the UK housing market.''
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