Salient to Investors:
Adam Challis at Hamptons Intl said:
- UK home prices will rise 2 percent next year driven by gains in the Midlands and northern England, then will climb another 2 percent each year through 2015 and 4 percent the following year.
- Values have fallen to a point where homes are becoming attractive to buyers, especially in the North and the Midlands, where prices will gain 3 percent in 2013, the most of any UK region.
- The yawning gap between London and the rest of the country will moderate. The north and south of England will advance 2 percent while London will be little changed. London prices will stall next year on increases to property-transaction taxes and concerns of an annual tax on luxury properties.
Knight Frank said homes in London’s most expensive neighborhoods are now 15 percent above the March 2008 peak.