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TODAY'S OTHER NEWS

High-end agency predicts strong five years for south and east of England

Strutt & Parker is early off the marks with its forecast for 2016 and beyond, predicting the strongest market growth in London, the south east and south west, and East Anglia.

By late 2019 Strutts says Greater London prices will rise by an average of 19.8 per cent - strong, but actually less than nearby regions such as Eastern England (up 22.8 per cent) and the broad south east of England (up 22.7 per cent). Joining the high-growth party over the next five years will be south west England (up 16.5 per cent by late 2019).

Some of the key to identifying growth areas is infrastructure, according to Stephanie McMahon, Strutt & Parker’s head of research.

“The benefits can clearly be seen with the uplifts in values witnessed across Central London off the back of Crossrail in places such as Farringdon and Shepherd’s Bush, amongst others. Looking outside of London, the electrification of the Great Western line - first stages due to open in 2017 - between London, Oxford, Newbury, Bristol and Cardiff will improve both journey times and capacity, ultimately ensuring greater connectivity for these locations and their hinterlands. In the south east, Oxford and Bicester will benefit" she says.

She suggests themes to note for next year will be London’s Mayoral election in May, eventual interest rate rises “in the first half of next year” and debate in the build up to the following year’s EU referendum. 

Other regions’ performance between now and the end of 2019 include the East Midlands (up 15.4 per cent), West Midlands (14.2 per cent), Yorkshire and Humberside (11.7 per cent), and the north west and north east (13.4 per cent and 10.0 per cent respectively).

Values in Wales will rise by 11.3 per cent on average, while Scotland will increase by 18.5 per cent and Northern Ireland by 15.7 per cent. 

The agency’s forecasts have been prepared with Experian. 

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