What lies in store for the UK housing market? Some of the country's leading property experts offer their views.
Whether you own a home or you're thinking of buying one online, how the housing market might fare in 2017 is likely to be of interest.
Courtesy of Zoopla who have rounded up property experts from all corners of the industry to find out what they had to say:
THE LENDER
Robert Gardner, chief economist, Nationwide
House prices: up 2%
"House price prospects will depend crucially on developments in the wider economy, around which there is a larger degree of uncertainty than usual. We expect the UK economy to slow modestly next year, which is likely to result in less robust labour market conditions and modestly slower house price growth.
"But we continue with the view that a small gain is more likely than a decline over 2017, since low interest rates are expected to help underpin demand while a shortage of homes on the market will continue to provide support for house prices."
THE AGENT
Fionnuala Early, chief economist, Countrywide
House prices: down 1%
Rents: up 4%
"We expect there to be a small fall in prices in 2017. The referendum is not the only factor – in London and the south more traditional drivers are behind the slowdown. The likelihood is that consumers’ finances will soon begin to feel the pinch as prices of essentials increase, affecting their confidence.
"Many of the economic risks set to impact the housing market could support the growth of the private rented sector. Heightened uncertainty in the sales market is likely to mean that potential first-time buyers delay purchasing decisions and more new households start off renting. Rental prices are usually closely tied to wages and unemployment, but increased demand from tenants will provide some support for rental growth rates."
THE TRADE BODY
Simon Rubinsohn, chief economist, Royal Institution of Chartered Surveyors
House prices: up 3%
Rents: up 2-3%
"The ongoing shortfall of stock across much of the sales and lettings markets will continue to underpin house prices and rents. As a result, for many, affordability will remain a challenge.
"Meanwhile the lack of existing inventory is impacting the ability of households to move. This will contribute to lower transaction levels over 2017 than we have seen in 2016.
"East Anglia, alongside the north west and West Midlands, is likely to record house price gains higher than the national average. Meanwhile, prices in central London look set to stabilise after recent declines, with support provided by the weaker exchange rate encouraging foreign buyers."
Courtesy of Zoopla Property Group.
Read more at http://www.zoopla.co.uk/discover/property-news/housing-predictions-for-2017/#TkSRGmTOhodd5ICr.99