Housing Market Predictions for 2019
That B-word we are so fed up hearing is due to happen in March. Until then we have no idea what it will happen with the UK economy, but in Britain we are staying positive about the property market. 55% of those interviewed in Zoopla’s State of the Property Nation report say that they expect property prices to rise in the next 12 to 18 months. That same figure was just 44% in 2016 showing a big increase in consumer confidence.
The number of households looking to rent or buy a new property is 4% higher than last year, and while the most active house hunters are in London, 24% of Scotland are said to be house hunting in 2019.
The expectation among commentators seems to follow that of the general public, that the market will keep moving, albeit slowly.
“Trying to sum up the health of the UK’s 27 million homes is impossible,” admits housing commentator Henry Pryor. At a local level, the performance of a school or a local crime can affect prices,
On a National level, the Bank of England says the impact of the UK leaving the EU on the housing market could be significant; but since it is tough to predict the outcome of Brexit, it’s even more difficult to predict the effect it will have on the housing market.
“Whichever way Brexit goes,” Andrew Montlake, from mortgage broker Coreco says, “The UK is still a stable country compared to many others and an end to all the current uncertainty will make a huge difference”.
