I am sure there was much more to celebrate as we entered 2014, than there was when we entered 2013 with regards to the housing market.
The housing market gained strength in 2013. But what will happen in 2014? Well lets look at the following facts.
The economy in the last 12 months has significantly improved. Take for instance;
- The Stock Market closed up 10%
- Bank of England base rate remained at 0.5%
- Nationwide said house prices increased by 8.4%
- Unemployment rate fell to 7.4%
However before we get carried away, according to Chancellor George Osborne last week, there still is a further £25billion more of cuts to come. Even with this to come, there is credible evidence that a recovery is now in place, which is having a positive effect on the housing market.
What will happen to the housing market in the next 12 months.
A number of property experts are predicting that house prices in the next 12 months will increase between 5-10% with regional variances.
Woking Borough Council has continued to invest in Woking, causing the town to become even more attractive to house buyers and businesses moving in.
The plans for Woking, will only take the town from strength to strength. I am convinced that Woking homeowners will therefore enjoy gains in house prices of between 6-8%. The housing market is set for further growth.
Woking is certainly where the activity is. Having been a resident in Woking for 40 years, as well as a business owner, I have no hesitation in saying that Woking is where you should invest in for the future.
We as a community have every reason to be upbeat as we support local businesses and see Woking thrive this year.
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