Welsh House Prices Set to fall in 2013

At Rooms in Cardiff we aim to provide landlords, home owners and property investor’s detailed analysis of the property market in Cardiff, Wales and across the UK.

The latest House Price report from Knight Frank bears grim reading for UK home owners and property investors in Wales and across the UK as Knight Frank predict house prices to fall across the UK with Welsh house prices predicted to fall a further 3.8%.

Key headlines of the Knight Frank report include:

  • UK house prices will not reach their 2007 peak until 2019: the longest housing market recovery on record, according to Knight Frank’s new forecast
  • UK housing transactions to rise 2% in 2013, but to remain well below peak levels for the rest of the decade
  • Tax changes forecast to weigh on prime central London prices, with no price movement expected in 2013.
  • 5 years since start financial crisis and UK housing market is not fully functional
  • Transaction levels 50% lower than in 2007 and 35% below 20 year average
  • House prices being supported by unusual economic conditions, ultra-low interest rates
  • Further correction in house prices is needed as relationship between average earnings and average house prices is well above long term average.

 

UK Regional Market House Price Growth

  20 Year Average to 2011 2007 2008 2009 2010 2011 2012 2013
East Anglia 5.8% 5.7% -16.6% 4.5% 3.4% 1.4% -2.4% -0.7%
East Midlands 5.5% 2.8% -14.2% -2.5% 1.7% 0.7% -1.6% -1.0%
London 7.4% 12.8% -15.1% 7.0% 2.5% 5.4% -0.2% -0.6%
North East 4.9% 3.7% -11.0% -2.0% 0.6% -1.0% 0.5% -2.3%
North West 4.9% 3.5% -14.4% 2.7% -1.9% -1.1% -1.8% -2.6%
Scotland 5.3% 10.1% -8.1% 1.0% -2.1% -0.8% -3.6% -3.2%
South East 6.4% 7.9% -15.7% 6.0% 2.4% 1.6% -0.9% -1.1%
South West 6.3% 6.4% -14.9% 3.8% 2.1% 0.8% -1.0% -2.2%
Wales 5.6% 4.2% -12.1% -0.3% -1.9% 1.6% -3.6% -3.8%
West Midlands 5.2% 4.4% -14.0% 2.1% 0.6% 0.4% -1.3% -2.1%

Read the full Knight Frank report here

The figures above suggest home owners, landlords and property investors across Wales should expect further house price drops so what can you do to weather the storm and shelter yourself from falling house prices.

At Rooms in Cardiff we are able to provide financial security to those of you with negative equity or landlords with empty homes by providing a guaranteed rental income for period of 12 months or more.  Rooms in Cardiff guaranteed rental income scheme is a great solution to landlords and homeowners across Cardiff and South Wales as we can help lighten the financial burden by providing a rent guarantee ensuring a monthly payment with no void periods, no set up fees and often with no maintenance costs.

Rooms in Cardiff are a specialist multi let and House of Multiple Occupancy (HMO) landlord service provider and can provide a HMO Rent Guarantee as well as providing a guaranteed rental income for apartments, bungalows, flats and homes across Cardiff and South Wales.

To discuss how Rooms in Cardiff can help relieve the financial burden of a house in negative equity or a rental property that is left empty and provide a guaranteed rental income, why not email info@webletz.co.uk or call 0845 496 0000.

One thought on “Welsh House Prices Set to fall in 2013

  1. Pingback: Welsh House Prices Set to fall in 2013 | Rooms in Cardiff | South Wales | Scoop.it

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