The housing market is will probably not improve too much in 2017, experts say. There is a big supply shortage, especially in the South East, and government plans to build a million homes by 2020 will need a big productivity boost, as currently only 150,000 are being built per year in England and Wales. London prices are slowing due to tax hikes and one agent predicts a 1% decrease in 2017. But neighbouring regions may benefit as buyers seek cheaper prices further afield from the capital.

Key Takeaways:

• 2016 showed a slow down in the rising house price trend of previous years
• London is likely to continue to experience a slowdown in house price rises
• There is great uncertainty as to what will happen in 2017’s housing market

“According to the latest data from Land Registry, the annual rate of growth for the average UK house price slowed from 7.7% in January to 6.9% in October.”

http://www.ibtimes.co.uk/uk-house-prices-what-2017-means-property-market-1596520