There is a tough year ahead for property prices – asking prices for homes are only expected to rise by a measly 2% next year – and with Brexit hanging over the housing market there may be further, upsets in the years ahead. House prices in London are also in for some trouble – with some economists predicting house prices in London will FALL by up to 5% in some cases, finally popping the bubble of housing prices in the city. But for now, the market nervousness is being counteracted by the high demand for homes, but this may not continue for long.
Key Takeaways:
- House prices are set to rise by 2% next year, the seventh year in a row they have risen.
- The price rises seen around the UK are slowing due to the uncertainty of Brexit.
- London is due to see a 5% decrease in property prices, as the central London property bubble continues to deflate.
“Overall, homeowners are still reluctant to consider moving”