Should you leave the country? Other questions for 2025

I was intending to write one of those ‘Ten tips to change your life’ lists that fill so many column inches at this drab time of year. But I got no further than ‘Buy bigger trousers’. Instead, I’ll tackle some of the obvious questions you might be asking as you watch snow turn to slush and wait for the boiler repair bloke to answer his phone. Can I cheer you up? Let’s see.

First, will 2025 be a good year to buy a new home (a decision that should always be taken on at least a five-year time horizon)? Pundits see house prices going up (and mortgage rates eventually coming down) in 2025, but not by much. More usefully, Savills predicts 23.4 per cent average nationwide price growth by 2029 – higher in the north, lower in London – while another estate agency, Hamptons, thinks London will lead with three-year growth of 14.5 per cent. In short, if you’ve spotted a place you like and can afford, go for it: you’re unlikely to lose. But don’t even think about taxed- and red-taped-to-death buy-to-let.

Never a bad time

Next, will this be a good year to start a business? One thing I’ve learned from the breed of young entrepreneurs who enter our Economic Innovator Awards is that they’re largely oblivious to politics and economics. This may not be a good moment to launch, let’s say, a concierge service for the super-rich, or to buy a village pub. In every sector, employment costs are rising, the tax regime has turned hostile and patient capital is scarce. But if you truly believe you have a brilliant idea in AI or greentech or bioscience, there’s never a bad time to test the market.