House prices to end 2019 at 4% annual growth
13 November 2019
By Daisy Stephens
Reallymoving’s November house price forecast shows that house prices are on track to end the year 4.1% higher than December 2018, despite a politically tumultuous year resulting in low consumer confidence and subdued transaction levels.
Average prices are set to tail off towards the end of the year, dipping by 0.3% and 1.1% in November and December respectively and with 0% growth forecast in January 2020. However, annually, house prices have performed better than expected throughout 2019, with projected house prices in December 2019 up 4.1% on December 2018.
Three quarters of the UK are expected to see this seasonal fall in house prices in the run up to the new year. However, in the West Midlands, East of England and North East, prices are expected to rise.
Rob Houghton, CEO of reallymoving, comments: “It’s fair to say 2019 was never going to be a stellar year for the housing market but despite consumer confidence taking a battering, house prices in England and Wales are on course to end the year 4% higher than the end of 2018, which supports our belief that the underlying value of property remains relatively stable.
“The political situation is now as uncertain as ever with a General Election just a few weeks away, but the figures indicate that the market will continue bumping along in much the same manner as we head into the new decade.”
For more on our house price forecast, you can have a go with the House Price Forecast tool
or visit the media centre
to see the press release.
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Tan on 09/02/2020