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In property news today, predictions for house price growth

General News   |   May 9, 2024   |   Lizzie

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Prospects for growth in the residential property market are making the headlines with predictions from industry players.

The BBC reports that house prices could rise by more than a fifth by the end of 2028, according to the latest forecast from a leading real estate services company.

Property consultancy Savills says it has upgraded its forecast around price growth on expectations of a stronger performance by the UK economy.

At the same time, mortgage experts at lender Halifax have tracked a recent rise in average UK house prices, saying the housing market was ‘finding its feet in an era of higher interest rates’.

The comments come as we await the next Bank of England decision on the base rate, still currently 5.25%.

The Bank has been attempting to balance calls for rate reductions while being responsive to the wider economic picture in the all-important fight against inflation.

If you are a homeowner, landlord, tenant or prospective seller or buyer, and want to discuss your next property move, we’re here to help. Contact us on 02392 826731 or visit www.chinneckshaw.co.uk.

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