A PROPERTY expert has shared his predictions for the UK market in 2017.

Mark Hayward, managing director of the National Association of Estate Agents, said he believes that there will not be extensive house price inflation in 2017 and that the number of property transactions will remain “steady”.

As a result of house price inflation stalling, first time buyers will find it easier to get their foot on the property ladder. Indeed, 29 per cent of NAEA agents believe that sales to first time buyers will increase in 2017. According to Mr Hayward, the government should focus on first time buyers purchasing older properties not only on those buying new builds.

Mr Hayward has called for the government to deliver on its promise of supporting the building of more properties in the UK, thereby addressing the current shortage of housing stock in the country.

He said: “It would be an understatement to say this year has not gone as expected. However, the property market is mostly still feeling the effects of events which happened last year.

“The high end London property market is suffering at the hands of increased stamp duty taxes, and while Brexit uncertainty definitely hasn’t helped repair this, it’s not the sole reason why London’s more expensive properties aren’t being snapped up at the same speed they were.

“Next year, we expect it’ll be more of the same; there won’t be a ‘property Armageddon’, but things won’t much better for first time buyers, and those looking to up or downsize,” he went on to say.