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Say Jones Lang LaSalle in their residential predictions for 2013
London, 13th November 2012 – The UK housing market is expected to make steady progress throughout 2013 with accelerated growth from 2014 onwards, say Jones Lang LaSalle in their residential forecasts released today. Looking at UK house price growth and UK housing transactions, we look at whether the market will improve over the next 5 years and the contributing factors that will influence this growth.
Following a period of restrained growth in 2012, UK housing transactions will hit 1 million for the first time since 2007 with mortgage lending levels rising to 650,000 new loans. But despite the improvement, both will still be over 40% below peak levels and more than 30% below the 1998-2007 ten year trend. New development will continue to be constrained, with approximately 115,000 completions being delivered in 2013, which meets only half of England’s housing requirement.
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