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Price growth to remain modest for UK Residential

By Adam Challis

 

Looking ahead over the next five years is no easy task in the current climate with the UK still yet to resolve its future relationship with the European Union.

Looking ahead over the next five years is no easy task in the current climate with the UK still yet to resolve its future relationship with the European Union.

Inevitably though, the UK Government will refocus attention on domestic policies as the sphere of influence from Brexit diminishes.

And there are plenty of housing issues that need to be addressed. These include affordability, taxation, regulation in the private rental sector, affordable homes, housing supply, land value intervention, lack of skilled labour and digital construction – to name a few.

JLL housing market forecasts assume that a Brexit deal is hammered out over the coming months and that we have a transition period until the end of 2020. During this time, greater political certainty will instill renewed confidence to UK businesses and consumers leading to improved housing markets.

But residential markets will take time to pick up from current lows. Our forecasts predict a steady recovery, with some London markets receiving an additional bounceback boost.