House prices are set for a slowdown following the buy-to-let buying rush.
The RICS says that uncertainty will be fuelled by Stamp Duty changes, a weaker pound, Brexit and devolved elections.
The RICS says that only 17% of its members expect to see house prices rise over the next three months, compared with 44% in December.
However, the RICS still expects house prices to rise by over 4% per year for the next five years across England and Wales.
Comments (2)
Hmmm!
Or to tell it another way.
London & south East house prices are unsustainably high.
We have a referendum (but this just keeps the lid on a small portion of market activity) but it will be over in June.
So it just comes down to income levels v’s house prices.
Yes there needs to be a correction but all that’s going to happen is flat house prices in the south east and a gradual increase on house prices elsewhere for the next 5 years.
And how many agents are RICS in your town?