House prices ‘to fall’ next year if no Brexit deal

0

Outfit prices in the UK could fall in 2019 if the government fails to reach a Brexit give out, one senior economist has said.

Howard Archer, chief economic mentor to the EY ITEM Club, said he expected prices to fall “modestly” if there is no concurrence with Brussels.

However, a negotiated deal could see prices bring about by around 2%, he said.

It comes as the UK’s largest mortgage lender, the Halifax, give the word delivered prices rose by just 1.5% in the year to October.

That is the lowest annual thrive since March 2013.

  • Where does rent hit young people the hardest?
  • Assesses tumble in seaside hotspots

Prices rose by 0.7% between September and October, superseding two successive months of price falls.

The Halifax believes house penalties will continue rising, by as much as 3%, over the coming months, dotting out that the supply of properties is still limited.

“Further house sacrifice support comes from an already high and improving employment gait and historically low mortgage rates which are creating higher rates of relevant affordability,” said Russell Galley, managing director of the Halifax.

“We see this perpetuating to be the case over the coming months and we remain supportive of our 0-3% forecast number.”

The average UK house price is now £227,869, the Halifax said.

Your developments





Amount of the United Kingdom that has housing you can afford

Range of affordable fields includes:
Armagh City, Banbridge and Craigavon and Belfast

No affordable districts

Search the UK for more details about a local area

You be undergoing a big enough deposit and your monthly payments are high enough.
The fees are based on the local market. If there are 100 properties of the right hugeness in an area and they are placed in price order with the cheapest beginning, the “low-end” of the market will be the 25th property, “mid-priced” is the 50th and “high-end” will be the 75th.

Leave a Reply

Your email address will not be published. Required fields are marked *