2020 Housing Sector Predictions: House Prices & Rent To Go UP
With the election over and Brexit pending, the question of how the housing sector will perform in 2020 is on everyone’s mind.
RICS has weighed in with their predictions:
- They predict that transaction volumes will remain flat
- House prices are predicted to increase by 2%
- Rent rates are expected to increase by 2.5%
Commenting on the predictions, a RICS economist said:
“Momentum across the UK housing market has remained relatively subdued, with new buyer demand showing little impetus going into the New Year. That said, with the Conservative party winning a clear majority, the Withdrawal Agreement will very likely be ratified in the coming weeks. This could see some confidence returning, at least for a brief spell, meaning activity may see some uplift.”
You can read more of their report over on their website here.