House prices are expected to have risen by 2% in mainland UK by the end of the year – but growth will stall in 2021, according to new research:
Assuming a trade deal is agreed with the EU and a vaccine becomes available in the first half of next year, with no major second lockdown, the firm believes prices to remain flat, with zero growth in 2021.
as the economy recovers house price growth is expected to accelerate to 2.5% in 2022 and 3.5% in 2023 across the UK (excluding Northern Ireland), equating to 8% over the next four years.
The more affordable regions in the north of England and Scotland that have lagged behind over the last decade are forecast to lead on price growth over the next four years, with prices in the North-East set to rise 11.5% by the end of 2023.
Rents are expected to underperform house prices this year, with -1.0% falls forecast, followed by a further -1.0% fall in 2021 before rebounding strongly.
After only 7 weeks of COVID the market was able tothe news is been sourced from the negotiator.
Disclaimer: This news has been sourced from the negotiator.