Year of the Snake: a good year for property?
Using statistics from Nationwide, Nick Barnes at Chesterton Humberts has taken a look at average house price growth since 1953 based on the Chinese calendar in which it is now the year of the snake (February 10, 2013 – January 30, 2014).
“Looking at UK annual house price growth since 1953, we observe that Snake years are towards the bottom end of the scale,” comments Nick. “Nonetheless they are a healthy 7% per annum which is way above any of the major forecasters’ projections for growth this year. It will be interesting to see whether this figure bears any resemblance to the actual outturn for 2013 – and if it does, what price the plethora of our domestic forecasts then?”buying house, real estate, selling house
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