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House price growth across the UK will slow to 1.5% this year

By dailymail, 2017-08-25

Price growth in the North West, Yorkshire and Humberside and the Midlands will follow a similar pattern of weaker annual price growth in 2017 and 2018, rising again in 2019.
After two consecutive years of falls, prime central London will experience price growth of two per cent this year, followed by increased of four per cent and five per cent in the next two years.Across the South East and East of England price growth will slow this year to 1.5 per cent and 3.5 per cent respectively.In 2018, however, prices are expected to rise by 2.5 per cent and a slower two per cent respectively.A similar path is expected for house prices in the South West of 1.5% in 2017 to two per cent the following year.As Brexit negotiations continue, Countrywide said that confidence will be volatile, having implications for the pace of economic and housing market recovery. The estate agent added that the outcome of these negotiations is the biggest risk to performance and is weighted to the downside.

Only an expected interest rate rise and a more cautious approach by lenders will prevent a faster price increase.

Greater London is expected to suffer the most with house prices remaining flat this year before rising by 2.5 per cent next year and four per cent in 2019.

The North East is also expected to see no price growth in 2017, however that is predicted to rise to one per cent the following year and 2.5 per cent in 2019.

Price growth in the North West, Yorkshire and Humberside and the Midlands will follow a similar pattern of weaker annual price growth in 2017 and 2018, rising again in 2019.

After two consecutive years of falls, prime central London will experience price growth of two per cent this year, followed by increased of four per cent and five per cent in the next two years.

Across the South East and East of England price growth will slow this year to 1.5 per cent and 3.5 per cent respectively.

In 2018, however, prices are expected to rise by 2.5 per cent and a slower two per cent respectively.

A similar path is expected for house prices in the South West of 1.5% in 2017 to two per cent the following year.

As Brexit negotiations continue, Countrywide said that confidence will be volatile, having implications for the pace of economic and housing market recovery. The estate agent added that the outcome of these negotiations is the biggest risk to performance and is weighted to the downside.

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