Zoopla Property : 7 housing forecasts for 2017

Whether you own a home or you're thinking of buying one, how the housing market might fare in 2017 is likely to be of interest.

We've rounded up seven property experts from all corners of the industry to find out what they had to say:

1. THE LENDER

Robert Gardner, chief economist, Nationwide

House prices: up 2%

'House price prospects will depend crucially on developments in the wider economy, around which there is a larger degree of uncertainty than usual. We expect the UK economy to slow modestly next year, which is likely to result in less robust labour market conditions and modestly slower house price growth.

'But we continue with the view that a small gain is more likely than a decline over 2017, since low interest rates are expected to help underpin demand while a shortage of homes on the market will continue to provide support for house prices.'

2. THE AGENT

Fionnuala Early, chief economist, Countrywide

House prices: down 1%

Rents: up 4%

'We expect there to be a small fall in prices in 2017. The referendum is not the only factor - in Londonand the south more traditional drivers are behind the slowdown. The likelihood is that consumers' finances will soon begin to feel the pinch as prices of essentials increase, affecting their confidence.

'Many of the economic risks set to impact the housing market could support the growth of the private rented sector. Heightened uncertainty in the sales market is likely to mean that potential first-time buyers delay purchasing decisions and more new households start off renting. Rental prices are usually closely tied to wages and unemployment, but increased demand from tenants will provide some support for rental growth rates.'

3. THE TRADE BODY

Simon Rubinsohn, chief economist, Royal Institution of Chartered Surveyors

House prices: up 3%

Rents: up 2-3%

'The ongoing shortfall of stock across much of the salesand lettingsmarkets will continue to underpin house prices and rents. As a result, for many, affordability will remain a challenge.

'Meanwhile the lack of existing inventory is impacting the ability of households to move. This will contribute to lower transaction levels over 2017 than we have seen in 2016.

'East Anglia, alongside the north westand West Midlands, is likely to record house price gains higher than the national average. Meanwhile, prices in central Londonlook set to stabilise after recent declines, with support provided by the weaker exchange rate encouraging foreign buyers.'

4. THE CONSULTANCY

Ed Stansfield, property economist, Capital Economics

House prices: up 2%

Rents: up 3%

'It's clear that lenders do not have the scope to keep increasing the size of loans they offer. Monetary policy is tightening in the US, the UK economy looks set to be softer in the first half of 2017, with a fractionally weaker labour market, which will have a dampening effect on the housing market.

'Rents are likely to increase broadly in line with underlying inflation. The supply and demand dynamic is still favourable to landlords, while the change to mortgage interest tax reliefmeans they are likely to want to protect their returns through higher rents.'

5. THE MORTGAGE BROKER

Ryan Tuff, mortgage adviser, Trussle

House prices: up 5%

Rents: up 3% (less in London)

'If inflation continues to rise, interest rates will need to rise too. Banks are aware of this and we've already seen a few remove some of their best rates from the market, HSBC's 0.99% 2 year-fixed rate, for example.

'Combined with the elephant in the room (Brexit) we're almost certainly going to see a decrease in demand. Should wage growth be impacted, then we could see household incomes fall, lessening demand for new property. While house prices may not fall, their growth will surely slow in comparison to 2016.'

6. THE PROPERTY COMMENTATOR

Melanie Bien, property expert and commentator

House prices: up 2%

Rents: up 2%

'The housing market is likely to be largely flat. All the indicators suggest that Brexit negotiations will drag on which will have an impact on people's confidence. The shortage of properties for sale will support prices to an extent but we are a long way off the double-digit house price growth seen in the past.

'With people on the whole choosing not to move, rental property is likely to continue to be in strong demand. With changes to mortgage interest tax relief coming in from April, putting a squeeze on landlords' profits, and letting agents forced at some point to stop charging tenants fees, it looks as though the only way for rents is upwards.'

7. THE FINANCIAL ADVISER

Jonathan Davis, economist and wealth adviser, Jonathan Davis Wealth Management

House prices: No change

Rents: No change

'The UK is heading towards recessionary conditions, which means lower growth at best, and it could mean negative growth. We have not had a recession for eight years, and they tend to come every eight to 10 years.

'Earnings are not rising much but costs are, so standards of living will be flat, if not falling. The economic indicators are not good, which is why I do not see growth in house prices or rents.'

How did the 2016 housing market perform? Find out here.

What's YOUR prediction for the housing market in 2017? Tell us by posting a comment below...