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House prices to flatline until next election, warns estate agent
Savills predicts London and South East house prices will rise just 13.6% by 2030, below the UK average of 22%, due to limited growth capacity in expensive regions.
- This year, Savills warned UK house price growth will remain constrained until 2027, with one per cent this year and two per cent next year, while London shows no growth until 2027.
- Higher rates and labour-market weakness next year, combined with inflation at 3.8 per cent, are likely to constrain price growth, while autumn Budget uncertainty keeps buyers cautious.
- Savills' regional data shows the average UK property is expected to rise 22 per cent by 2030 while London is forecast at 13.6 per cent, with a typical London property gaining £93,191 over five years.
- First-Time buyers remain active while discretionary movers pause until after the Budget, keeping the prime property market subdued; Savills expects transactions to approach pre-pandemic levels over five years.
- Savills says regional shifts will equalise property values, with North West values narrowing to 15 per cent below the UK average by 2030, driven by the housing market cycle, Dan Hill said.
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Leaning Left0Leaning Right2Center2Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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