Policymakers of both monetary and fiscal policies expressed their worry over house prices in UK and prompted UK finance chief to launch ambitious, biggest, housing project in more than four decades, but today Right move house price survey indicated that price could be higher next year.
That is probably indicating, Mr. Osborne's plan to build 400,000 homes across UK to curb prices are likely to fail.
Survey points out 85% of the home owners expect their financial situation, not to deteriorate over next year, with 41% seeing better prospects. 70% of the homeowners, think their house prices would rise over next year. Price has grown 6.2% in last one year.
Moreover, November is a time of seasonal slowdown, however prices drop shows it has been least since 2011, just a drop of -1.3%.
Detail of the survey showed, price rose the most in East of England (10.4%) and least in Wales (-0.8%) in last 12 months. Average price has been highest in Greater London (£619,866) and least in North East (£142,917).
Heading into 2016, and next elections, house prices could be a key factor in forming policies, both in monetary and fiscal space.
