House prices predicted to rise by 2% in UK
The average price of a home will rise by 2% over the next year, with northern regions performing more strongly than those further south, according to predictions from the UK’s biggest property website.
Rightmove said it expects to see asking prices rise by 2% in 2020 – and that the election result could pave the way for increased housing market activity this coming spring.
The rebound in the market follows a moribund 2019, in which the number of sales agreed fell 3% on last year and the number of properties coming to market fell by 8%, said Rightmove.
The website’s data for the latest month – to mid-December 2019 – revealed that prices were still declining as the election took place. Rightmove said the average price fell by 0.9% to £300,025 in December, leaving the market just 0.8% ahead of this time last year.
But a re-acceleration next year, even to just 2%growth, will mean buyers having to pay £6,000 more for the average home.
Rightmove director Miles Shipside welcomed the certainty produced by the election landslide. “The greater certainty afforded by a majority government gives an opportunity for a more active spring moving season, with some release of several years of pent-up demand.”
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If you need an estate agent who will help at each step of the journey, then call us on 01782 970222 and speak to one of the OneAgency team who would love to help you discover the joy of moving.