House prices to falter next year before putting on growth spurt, agents forecast

House prices will fall across the UK by an average of 1% next year, Chestertons has forecast.

It says that London prices will fall by 2%, and forecasts that regardless of the Brexit outcomes, both prices and sales will fall.

The firm believes house prices will revive in 2021 and then enjoy moderate growth. It is forecasting cumulative growth of 10.4% in UK house prices between now and the end of 2023.

JLL is yet more upbeat, forecasting growth of 14.8% over the next five years.

It says that some regions, including London, Yorkshire & Humber, and the east of England, will out-perform this.

The firm does predict that next year will start slowly, before house prices accelerate at a rate of between 1.7% and 2% per year post-Brexit.

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