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20 December 2016
Doug Crawford offers his housing market predictions for 2017
“2016 has been a year of two halves. A boom in the first half due to the stamp duty land tax changes regarding additional properties, and then a slowing as the EU referendum and American election results were announced, creating a sense of caution across the market.
“With a lack of housing stock continuing to dominate, we expect 2017’s focus will remain with the Government’s commitment to new build developments; with innovative technologies and pre-fabricated techniques being adopted across the industry in an attempt to speed up the home building process.
“Following the reduction of the buy-to-let market, we anticipate seeing a rise in shared-ownership schemes, an increase in high LTV mortgages for first-time buyers and an array of new re-mortgage products launching onto the market. The most popular of which will be for long-term, fixed rate products, complete with a ‘fees included’ promise, as re-mortgage clients seek financial reassurance in the lead-up to (the possible) triggering of Article 50, and beyond.”