It has been predicted that the UK’s housing market will undergo some uncertainty over the coming months, due to a combination of factors including the recent changes to stamp duty, upcoming regional elections, and the imminent referendum which will decide whether or not the UK exits the European Union. According to surveys carried out by the Royal Institution of Chartered Surveyors (RICS), short term confidence has been knocked, leading to a temporary slowing down of the market across the country.

House prices have dropped in many parts of the UK, and indicators are showing that price inflation has been slowing down too. The effect has been particularly apparent in Central London, where over a third of those surveyed expected to see property prices decrease in the next three months. It is widely expected that this means the number of sales will continue to fall in the coming months. These were all expected developments which will not be surprising to those involved in property. It is usual for the market to slow down during elections and times of political or financial uncertainty as people tend to be more cautious and wait to see what happens before taking any major buying or selling decisions.

Despite all of this, it seems that the outlook is different over the longer term. Over the next five years, it is expected that prices will rise by an average of 4% annually throughout England and Wales. When it comes to the London market, it’s thought that prices will rise by around 3% each year over this period, meaning that investors can expect their properties to gain value over the next few years.

As the property, block and estate management specialists serving Ealing and all other areas of London, we are always on hand with advice, support and guidance to landlords and investors who are unsure about the latest developments in London property. Give us a call if you would like to learn more about any of our services, or need some guidance on the best times and places to invest under the current market conditions.