Wednesday 20 July 2016

Centre for Economics and Business Research - "Prices will rise in 2017"

The Centre for Economics and Business Research has said that houses will increase in value by roughly £40,000 by 2021.

They also forecasted that house price growth in 2016 will reach 5.7%, and will rise a further 2.2% in 2017.

This will take average house price to £234,000 by 2021, with a 3.9% growth that year, according to Nationwide.

Robert Gardner, Nationwide's chief economist, said: "Housing market transactions were always likely to soften over the summer after the surge in activity in March. Determining how much of the [end-of-year] fall-back in activity is the result of the Stamp Duty levy, and how much is due to the referendum, will be difficult."

The CEBR forecasted a big decline in London prices - down 5.6% in 2017, but recovering to annual growth of 6% by 2021.

Source: This is Money

No comments:

Post a Comment