STAR SPECIALS: HOUSE PRICES EVEN MORE LIKELY TO FALL?
[dropcap]S[/dropcap]tar Sports have cut the odds on average house prices falling in 2016 from 8/11 to 8/13 as Chancellor George Osborne’s March Budget looms.
Jamie Loughead, Head of Politics at Star Sports, comments:
“We caused a bit of a stir last month when we predicted house prices to fall in 2016, and we’re even more convinced that they’ll take a tumble now. We’ve seen the Halifax Price Index report a 1.4% drop in house prices in February, no great surge amongst buyers to beat the introduction of the buy-to-let stamp duty in April and next week’s budget is unlikely to do landlords any favours.”
“Based on our research we believe there is about a 58.2% chance of prices falling from where they are now until the end of the year. If I had to pluck a figure I would say average house prices are likely to fall about 4% by 2017- and next year there’s a possibility of even greater falls, as a largely stagnant market becomes one in freefall.”
House Prices
UK average house prices to decrease in 2016- 8/13
UK average house prices to increase in 2016- 5/4
Settlement based on Nationwide Price Index Updates, which on 10/03/16 stated UK average house price as being £196,829. Increases/decreases calculated based on difference between £196,930 and Nationwide Price Index Update average in December 2016, which will be reported in early January 2017. Star Sports decision is final.