Forecast for United Kingdom (UK) house prices growth 2018-2022

In January 2018, it was expected that house prices in the United Kingdom (UK) would increase in the following years. Forecasts indicated a cumulative growth of residential property prices between 2018 and 2022 of 12.6 percent. As of July 2018, the average price for a house in the UK was 231,163 British pounds.

Brexit process created concerns

This forecast was released before Brexit started to appear in the news, throwing a spanner in the works for any prediction on the UK’s future. The political uncertainty surrounding the idea of the UK leaving the European Union forced a decrease in the number of property transactions in the last months of 2018.

Prices to increase the least in London

The doubts on the housing market especially affected the city of London. Compared to other UK regions, the capital was forecast to see the lowest price growth after 2019 as opposed to price rises in the North West region, which includes cities such as Manchester, Liverpool, Preston and Blackpool.