House price growth in East Midlands above national average
Big price reductions in London and many other regions across the UK are hitting the headlines whereas other locations seem to be bucking the trend or at least holding out for longer. With the national house price growth figure at 3.4% both East Midlands showing a 5.5% growth and West Midlands showing 5.3% are performing above average.
Savills have released statements on the forecast for property prices in the UK for 2019 with Dr Lucy Greenwood, Savills residential research analyst, quoting: “While rates of new build home sales have remained relatively stable, there are clear signs of increased home buyer caution and greater reliance on incentives to get sales over the line… ”.
Brexit was also quoted with hope that clarity may come soon on whether the UK is leaving, remaining or delaying – factors which are said to be effecting confidence nationally and especially within the property sector both commercial and residential.
Full report can be read on the East Midlands Business Link website.