A summary of 2014: The UK housing market saw a spring and summer boom in 2014, particularly in London and the South of England, before activity dropped away a little towards the end of the year.

Although at Michael Jones we did not see evidence of this and had a very successful end to 2014 that saw no slowing down in our activity levels throughout December and into January.

Mike Jones, owner of Michael Jones estate agents said: “Since coming back from the Christmas break, we have remained busy with many new sales being agreed. We actually experienced one of our busiest Saturdays on record on January 3 which we were delighted with.”

A look at 2015: Activity levels are unlikely to change very much in 2015 compared with last year, according to Ray Boulger, from mortgage brokers John Charcol.

His house price prediction for 2014 looks to be among the most accurate, and in 2015 he has suggested (like many others) that UK house prices will grow by 4% on average.

He also says he will not be surprised if the Bank rate, a key factor in determining the level of mortgage interest rates, could end the year at the current, record low level of 0.5% which is great news for first time buyers.

George Osborne’s surprise cut to stamp duty which was unveiled last month, and took effect immediately, is also a major opportunity for house buyers as you will now save up to £4,500 on stamp duty fees if you are purchasing a home with an average asking price of £275,000.

Taking the experts opinions into consideration, estate agent Michael Jones predict over the next few years house prices will rise no faster than 5% per annum and if you are looking to buy or sell, now is a great time to do so.

If you would like advice or a free valuation, please call us on 01903 213281.