London will experience a year of stagnation when it comes to house prices, the Royal Institution of Chartered Surveyors says in its outlook for 2015.
RICS expects the London market to be flat, and for house prices in the U.K. as a whole to rise just 3%. While the election will play a part in this, the main risks come from outside the U.K., RICS said, citing in particular the potential for downside risk as a result of fallout from Europe, and also the Chinese property market.
Upside risks include low interest rates and indications of an improvement in wage growth, RICS said. The impact of the recent change in stamp duty is hard to assess, it said.
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