About the report
The path towards Brexit will dictate what happens in the UK housing market over the next few years. However, although we expect some turbulence, we believe the housing market will remain reasonably strong and active. Demand will be undermined in the short-term by uncertainty and a more subdued economy while supply issues will exacerbate, lending support to prices.
We are forecasting house price growth of ½% across the UK in 2017 and 1% in 2018. We expect transaction levels and house price growth to increase more strongly from 2020 post-Brexit.
The perennial issue for the housing industry remains supply and we are pleased that there seems to be fresh impetus in this regard. The big question, however, is whether policy initiatives target short-term supply improvements, or look beyond the immediate horizon to create lasting, long-term solutions.
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