UK house price growth to remain moderate according to PWC

July 16, 2018

House price growth to remain moderate across UK according to recent press release from PWC, however house prices in London are projected to fall in the short-term, down by 2% in 2018 from 2017.

In their report the PwC state that average UK house price estimated to rise from £221,000 in 2017 to around £285,000 by 2025.

Richard Snook, senior economist at PwC, commented:

“UK house price growth remained resilient in 2017 despite a weakening economic backdrop, but has shown signs of moderating during the first half of 2018, particularly in London. Affordability in the capital has been stretched due to three factors: a high deposit saving hurdle, increased economic uncertainty relating to Brexit acting as a drag on international investment, and reduced numbers of housing transactions due to stamp duty changes.

“However, London house price growth should pick up again from 2020. We project the average price of a London home in 2022 to be £509,000, compared to £141,000 in the North East. This means the large affordability gap between the capital and other UK regions is set to remain.”

Read the PWC press release 13th July in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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