There is little variance in national annual house price inflation forecasts from different agencies at this early stage in this difficult unpredictable year ahead . Lets see how accurate they are at end of 2019!
As ever ‘UK house price inflation’ is a real generalisation and hides many local variations and local markets.
Edinburgh & Manchester house price growth has shown no similarity to London price growth in the last year obviously with price drops in Central London and the South East . Doom mongerers will say that whatever happens down south will creep north. They may be right.
Gloomiest is from Hamptons /Countrywide – minus 0.5%
Halifax – up 2-4%
Office for Budget Responsibility – up 3.1%
Rightmove , Savills, PwC, Capital Economics , JLL, Hometrack are all in between these figures.
All these predictions do is give an overall picture. Why do we seem to be gloomy when house prices don’t move ? Some might say that these are good figures as it gives those looking to get on the housing ladder some breathing space.
However with Brexit … or no Brexit effect coming through then these figs will way off the mark in different locations , niches and local hotspots around the country even within cities again highlighting the misleading nature and confusion that national house price inflation figures can cause.