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Reallymoving predicts house price growth of 4.1 per cent for 2019

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  • 12/11/2019
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Reallymoving predicts house price growth of 4.1 per cent for 2019
Reallymoving has forecast that average house prices will rise by 4.1 per cent yearly to reach £299,705 by the end of 2019.

 

The company collects price agreed data from customers seeking quotes for home-moving services on its website typically 12 weeks ahead of completion. 

Average prices were forecast to increase by 4.8 per cent in November, 4.1 per cent in December and in January 2020, 3.8 per cent, compared to the same months a year earlier.

The previous Reallymoving House Price Forecast, which was published in September, laid out expectations of a 3 per cent increase for September, 2.7 per cent for October and 2.1 per cent in November.

September’s actual growth figure came in at 3.1 per cent, while October was higher than forecast at 4.8 per cent.

The actual growth figure of 4.8 per cent for October and the forecast 4.8 per cent rise for November represent the highest monthly growth rates since March 2016.

Reallymoving said that positive house price growth had come “despite a tumultuous year politically resulting in low consumer confidence and subdued transaction levels.” 

Month-on-month, prices were predicted to fall by 0.3 per cent in November, 1.1 per cent in December and for January they would be unchanged.

 

Regional forecasts

Of 12 regions, three were forecast positive growth for the three months to end of January 2020. The West Midlands was expected to see the highest price growth at 4.1 per cent, the North East came next at 3.1 per cent and at 1.9 per cent the East of England.

The remaining nine regions were forecast to fall for the upcoming quarter. The biggest falls are expected in Northern Ireland at 8.5 per cent and Wales at 8.4 per cent, Reallymoving said.

These continued with prices in the North West predicted to drop 5.1 per cent, followed by the South East at 2.9 per cent, East Midlands and Scotland both at two per cent, London at 1.8 per cent, Yorkshire & Humber at 1.1 per and the South West at 0.9 per cent.

The Reallymoving House Price Forecast November 2019 is based on sales agreed in August, September and October.

The company’s data has historically tracked the Land Registry Price Paid data.

 

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