Scotland experiences a growth in property prices whilst the rest of the UK sees a drop.

The most recent data from the Home index has shown that the asking price for properties has dropped across the UK except for Scotland, but there are estimates that prices will grow by 7% in 2015.

Throughout England and Wales, prices have dropped by 0.7% in the last mean which results in annual growth dropping to 7.6% but asking prices in Scotland have increased by 0.3%. Places such as London and the South saw a growth in asking prices but Greater London did see a growth of 15.9% over the last year. It has also been seen that supply in the capital regions as grown significantly over the last year, 39% to be precise and the will only result in a weakening of prices rises during 2015.

There is a level of consistency expected throughout 2015 in property prices when compared with 2014 and it is likely that the central London market is now showing signs of slowing down which means that average prices are not going to increase as quickly as they did during 2014.

Demand will be encouraged by mortgage rates which are sitting at a record low and this will result in vendors situated in London and the South East to take advantage of this by cashing in and this is why supply and demand is likely to increase. This will see levels of sales increase to a point where they become normal once again.

Prices in the South are likely to see highest of rises with the predicted figure sitting at around 7% for the rest of the UK, regardless of the increases experience in the South the North will also see continuous improvements but at a slower rate.

However, price rises in London will not be as large as they were during 2014 with increases being positioned around the 10% mark. There will also be an increase in the supply of properties by around 25% during 2015. East Anglia and the South East are likely to lead the increase for regional markets as a result of an improvement in their marketing times. Throughout these regions property availability is low and this will see prices continue to move upwards although the number of properties becoming available is likely to increase.

A higher than average growth in house prices is expected in the East Midlands as well as lower marketing times. The North of England which has also experienced problems such as unemployment and cut backs is also likely to improve gradually. The South West and West Midlands should also experience improvements but any growth will be at a rate that is slower than the national average.

All of these predictions are based around the important fact that the current interest rate stays exactly where it is. Even if there is a small increase by the Bank of England the market would experience some kind of impact and even an increase of 1% could see growth drop to 0%.

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