Witney Property Prices set to rise in 2013

Courtesy of the Office for Budget Responsibility the good news is that 2013 is due to see increases in property prices !

We're told the forecasts are predicting a 20% rise in transactions in 2013-14 compared with 2012.

The expectation is that house prices will rise above inflation reaching an annual growth rate of 4.5% in 2015-16. These forecasts also support the chancellor's Autumn Statement.

The low figures in sales this year has been in part to more cautious lenders, buyers worried about the stability of their own jobs and sellers unwilling to reduce their asking prices.

The latest figures from HMRC show that 76,000 homes were sold in October which was 1,000 more than in September but still 3,000 fewer than in October 2011. ie. 5% down on last year.
 

Moving forward if you need advice regards buying or selling, or any conveyancing transaction, please do not hesitate to contact our team directly.

Lee Chadwick Solicitors

Witney, Oxford & Oxfordshire

Property Solicitors

Tel: 01993 703272