News & Updates

House prices set to slip

Property, Economy, Brexit

House prices are expected to fall towards the end of the year, according to estimates from the Office for Budget Responsibility. It said that average prices will drop by 0.3% in the fourth quarter of 2019. Growth is expected to return in the second quarter of 2020, to 0.9%, but will remain well below the previously forecast figure of 3.1%.

The outlook was revealed as as the Royal Institution of Chartered Surveyors (Rics) warned that prolonged Brexit uncertainty will damage the UK housing market.

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