The Chinese New Year officially starts on Tuesday 5th February, welcoming in the Year of the Pig. The Chinese zodiac is a repeating cycle of 12 years and the Pig is the twelfth of all the zodiac animals.
Since 2007, the last Year of the Pig, the average price of a property in the UK has risen by 30.1%, the equivalent of over £53,000. The largest increase however, happened between 1995 and 2007, when average prices tripled.
Since 1971, price growth in the Year of the Pig has averaged 6.2%. HM Treasury latest consensus forecast for 2019 is for average prices to rise 2.2%.
In Chinese culture, pigs are a symbol of wealth, have a beautiful personality and are blessed with good fortune in life. They are also realistic. This last characteristic may well prove fitting for the housing market of 2019.
Just below 1.2 million residential properties changed hands throughout 2018 according to data from HM Revenues and Customs. Despite talks of a slowdown in the market, this is in fact just 30,520 fewer than during 2017. The end of 2018 provided some seasonal cheer. 204,800 sales are estimated to have taken place in November and […]
Nearly half (49.2%) of all babies were born into rented homes in 2016/17, according to a new report by Royal London, up from just one in three in 2003/04. The average age for first-time mums and dads is 29 and 33 respectively, while the average age of a first-time buyer is now 34. The so-called […]
Brexit continues to make long-term and strategic decisions difficult for UK-based businesses and homeowners. Yet both the UK economy and its housing market registered around 3% annual growth in each of the first three quarters of 2018. Since the last troughs in GVA* in Quarter 4 2009 (Q409) and house prices (Q109), both indicators have […]