House prices predicted to rise by 2% in 2020

December 18th 2019
By: Melanie
House prices predicted to rise by 2% in 2020

The recent landslide Conservative victory has bought back vital stability to the market place, especially surrounding the gridlock and uncertainty of Brexit which is now expected to be delivered on the 31st of January 2020. 

In the run-up to the general election, there was a slight dip in the average house price, which was 0.9% and is to be expected in such a tremulous period. 

Now that the election has been finalised and there is more Brexit clarity things are looking much more positive for the housing market for 2020.

Andrew Gilchrist, Managing Director of Intercounty commented: “Now that the general election is over, and with a clear Tory win, an orderly Brexit with the country moving to transition arrangements at the end of January is looking much more certain. This positivity will also bring more impetus to the housing market, so we are expecting a very buoyant year ahead.”

He continued: “We expect a surge of activity in the housing market as those previously cautious buyers or second movers who have just been holding off to see what will happen will move back into the market place. A predicted increase of 2%* for the average house price will mean that property buyers will need to spend an extra £6,000 on average to buy a new property next year.  If you are looking to buy then now could be the ideal time to purchase a new home."

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