The UK residential property market is expected to be stable in 2012 with little change in prices overall although the outlook is uncertain, according to the latest prediction report from the Halifax.
Analysts expect the Bank of England’s base rate to remain at 0.5% throughout the year and although there will be weak economic growth, high unemployment and mortgage funding pressures there are a lot of positives as well.
They point to affordability in the market place, a low lending rate, low levels of forced sales and a long term supply and demand imbalance as being good points for the year ahead.
