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.”