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The franchise property business Winkworth - London’s largest estate agent in terms of offices - says central parts of the capital will enjoy five per cent price rises next year while suburban areas will see 10 per cent price increases.
The roundness of the figures betrays the absence of a large central research department (it relies on famous London data company LonRes for much of its information for market reports) but with 58 offices across the capital, the Winkworth brand is well-known.
The agency warns that two issues temper central London price expectations in 2014.
The first is a reduction in economic and currency volatility around the world ”lessening the pull of London as a safe haven” and secondly high stamp duty rates for £2m+ properties.
Winkworth - which also has more than 20 offices outside of the capital, as far afield as Devon - makes only one out-of-London prediction, again a round-figured five per cent price rise forecast for south east England.
The publicly-listed firm echoes large numbers of agents in saying that “many [clients] that have held off buying in the country and kept their money in London will look to take advantage of the value gap that has opened up and make a lifestyle choice to move out.”
It also anticipates a 15 per cent rise in transaction volumes in 2014.
This blog will continue to carry 2014 housing market forecasts by leading organisations as they are issued. To see earlier forecasts, click on November 2013 in the ‘Archive’ section - then scroll down to get all 11 so far.
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