Year of the Snake: a good year for property?

Among the many ways of predicting house prices swimming around at the moment, there’s one which has not yet attracted much attention…

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?”

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• greggf

  Which lunar calender years are good, and bad, for the £?
  The £ fell against the euro and the USD by some 40% between 2007, mostly year of the Pig, and 2008, mostly the Ox. It has recovered some 15% since – until recently!
  So this analysis by Chesterton Humberts might be a mixed guide!

• natly

  The year all the buy-to-let parasites come slithering to the banks to fatten themselves….ok I am being unfair on snakes

• http://www.facebook.com/paul.phoenixnovarebirth Paul Phoenixnovarebirth

  Year of the snake

  Year of the Antichrist:)