By Madalena Penny
Data revealed by property website, Rightmove suggests that the UK can expect a modest rise in house prices this coming year, with Northern regions seeing the biggest increase of all.
However, according to their statistics, the number of sales agreed in 2019 was down by 3%, and the number of properties put on the market was also down by a further 8%, leaving a large gap between the supply and demand chain.
House Price Prediction for Southport
What this means for house prices in Southport, is a modest increase in house sales. After much instability in the property market due to the ongoing Brexit issues, we can now look to fare better in 2020 on house prices in general.
In Southport, house prices have increased for properties under the £300K threshold in 2019, comapred to the previous year. But for residential properties over £300K , saw a decrease of 6% according to data from Home.co.uk
While the February budget has now been made to moved to March 11th – it is not likely that stamp duty will be lowered .
What will this mean for the private rented sector?
As a result of the lack of available housing stock, it is likely that rents will increase, reflecting the gap of generation rent. While there is still no movement likely to scrap the relief on the mortgage interest for private landlords, it is still expected to be a good year for buy-to-let investors looking for good rental yields, especially in the Northern regions.
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