UK Housing Market Forecast for 2017

House price rises slowed significantly during 2016 and experts are warning that this sluggish growth is likely to continue this year with uncertainty about Britain’s withdrawal from the European Union. Meanwhile, changes to stamp duty in 2015 are continuing to have an impact on the very highest end of the property market where the cost of buying a home has increased dramatically.  Furthermore, higher rate duty charges on second homes came in in April 2016 and it is expected that these will have a further depressing effect on prices. So what will happen to prices this year? The latest national figures for house prices are for October 2016. Released by the Office for National Statistics, these show that UK prices rose 6.9 per cent in the year to October which was the lowest overall rise since the end of 2015 with the average UK house now costing £217,000. Growth has slowed across all housing sectors with virtually every index now suggesting that the slowdown will continue throughou
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