3% rise in UK house prices predicted

Hometrack, a property analytics company, is planning for a 3% raise in UK house prices over the year. They are also prediciting 5% in the twenty largest cities and markets across the UK. While this is good for owners, it may cause problems getting into those markets. For instance, London’s prices have grown almost 70% since 2009 and cities like Manchester can see up to 25% growth in prices over the next few year. While concerning it still will help people get into a market and see sustained growth.

Key Takeaways:

  • 20 cities are primed to see growth of 5% over the next year.
  • This growth could turn into 25% over the next few years in cities like Manchester.
  • This isn’t uncommon as London has seen 70% growth since 2009.

“Homeowners have reason to be optimistic as Hometrack, a well-known property analytics company, predicts house price growth of 3% in 2018.”

Read more: https://moneyfacts.co.uk/news/mortgages/3-rise-in-uk-house-prices-predicted/

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