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Property Values Will See Modest Increase in 2017 says New Poll

House prices will rise by 2% over the course of next year according to a new survey of some of the property market’s most prominent analysts.

UK Property Prices to See Mild Growth in 2017

House prices will rise by 2% over the course of next year according to a new survey of some of the property market’s most prominent analysts.

The poll, conducted by news agency Reuters, saw 25 experts agree that the average house price was likely to grow next year despite Brexit uncertainty in the market, with the average rise in property values projected at 2% across all of the respondents.


This marks a slight increase in expectations from the group, who forecasted more modest growth in August’s survey.


However, the increases shown this month are still more conservative than their pre-Brexit projections, where the analysts forecasted growth of 4% - but working on the assumption that the UK would remain a member of the European Union.


All the respondents agreed that the largest impact on house prices would be seen in the prime London markets, where prices are likely to rise by 5.0% by the end of 2016 – driven in part by overseas investors capitalising on the weak sterling – but is forecasted to see a decline of 0.5% over 2017.


Commenting on the impact of Brexit on the market, one respondent, Howard Archer of IHS Markit said: ‘It is likely that any downside for house prices will be limited markedly by a shortage of houses for sale.’


For 2018, there has also been an upward trend amongst the analysts, with the group projecting 2.7% growth – up from the 2.4% increase seen in August’s poll.


Earlier this week, Housing Minister, Gavin Barwell, announced a new multi-million pound Build-to-Rent scheme to tackle the housing shortage, with Birmingham, Manchester and Leeds all set to benefit from new construction programmes.

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