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What do you think about house prices in south bank middlesbrough or Normanby rd in the future ? Next 5year?

Asked on Mar 14 2014, House Prices in Middlesbrough | Report content

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  • Hi irfan, Across the next five years, I would predict that house prices across the UK as a whole should be headed upwards, especially with the government looking to boost sales in the Budget two weeks ago. In the past year, prices have been boosted across the UK by nearly six per cent on average, and this was largely as a result of the increase in demand (nearly 10 buyers were after home that went on the market) that came about by the ease of being able to get a mortgage and the Help to Buy scheme that came in last April. Looking forward, the government has extended this scheme until 2020 which should mean that demand for homes should continue on this upward trajectory for some time to come at least. It will mean that prices head upwards again. Many are predicting that prices will average out at eight per cent higher in 2014 than they were at the end of last year. With the economy also improving by a predicted 2.7 per cent this year as well, and more and more people looking to buy as they are able to get jobs, the potential for strength in the market across the next few years is pretty good. In the north-east, I would say that this will also be the case, with this being among the areas that saw some property trouble following the last financial crisis. These areas are starting to pick up again now that finances are improving, and it should be a trend that continues for the next few years at least. Many thanks, Scott

    Answered on Mar 31 2014, Report content

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