Expectations for house price growth in Britain have been lessened to just 1.0% for 2023 due to global uncertainties, down from 4.0%. However, the five-year outlook has been improved to a 24.5% increase, slightly up from the previous 23.4% estimate. Factors influencing this shift include economic and geopolitical instability as well as changes in buyer behavior resulting from stamp duty adjustments. The market showed increased activity early in 2025 as buyers hurried to meet transaction deadlines.
House price growth expectations for the current year have been significantly scaled back amidst broader global uncertainties, according to a new forecast from property firm Savills.
Savills now anticipates average house prices across Britain to rise by just 1.0 per cent this year, a notable reduction from its previous forecast of 4.0 per cent.
Conversely, the firm has increased its five-year projection, expecting a 24.5 per cent increase over that period, up from an earlier estimate of 23.4 per cent.
The property expert noted that recent economic and geopolitical instability has contributed to a weaker first half of 2025 than initially foreseen.
#housing-market #property-forecast #economic-outlook #mortgage-affordability #geopolitical-instability
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