CHARTERED SURVEYORS REPORT 1.25 MILLION HOMES TO BE SOLD IN 2015

With the impressive figure of 1.25 million home sales being implied by the Royal Institute of Chartered Surveyors (RICS), it seems that 2015 could be an interesting year for the UK property market. It is the regional areas that are expected to see significant gains, such as Humberside, Yorkshire, the West Midlands, the North West and the South East.

However, this overtly positive statement is also balanced with a number of adverse observations. "Lack of supply to the housing market remains a running trend, and one that cannot be addressed fast enough" says RICS representatives in December 2014 interviews. 

The November 2014 RICS report also raises this need for fresh new stock to the market. Although the latest National Statistics' House Building report does at least show that whilst new property developments are still 33% below the pinnacle years of 2007, they are now 92% higher than the dearth of 2009. So, perhaps we can at least say that we are heading in the right direction.

The RICS report also warns that variations in price performance across the UK will be wide-reaching, especially considering London Boroughs. But with such a huge demand for properties throughout the UK, we are expecting at least a 3% price rise national average. Of course, this rise is also thanks to recent Stamp Duty changes.



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