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House prices set for zero growth in 2019, Rightmove forecasts

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  • 07/12/2018
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House prices set for zero growth in 2019, Rightmove forecasts
Homes listed for sale in 2019 are predicted to have the same average asking price as this year, although a North-South divide is expected to emerge.

 

Asking values will be flat as an increase in political or economic uncertainty constrains growth, Rightmove forecast.

Underlying fundamentals of the market will prevent an overall fall in prices, according to the property website.

However, in the South asking prices are expected to dip, with values in London-commuter regions tumbling by around 2%.

This will be offset by buoyant markets in the North, which are predicted to rise by up to 4%.

Miles Shipside, Rightmove director and housing market analyst, said: “Since the property market’s recovery from the 2008 financial crisis, many parts of the northern-half of the UK have seen marginal or relatively modest price increases.

“We predict that these areas will continue to see price rises, though tempered by affordability constraints.

“In contrast, regions in and around the influence of London saw prices go up in a five-year period by an average of around 40%.

“Consequently, we forecast that these previously booming areas will continue to see modest downward price re-adjustments in 2019.

 “Agents in some locations are reporting that home movers are being negatively influenced by the ongoing political uncertainty, and a more certain outlook would obviously assist market sentiment.”

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