41% of Brits predict three-year lull for house prices

41% of Brits do not expect property prices to increase in the next three years as Brexit uncerainty weighs on buyer and seller confidence, according to a survey from AnyVan.

Related topics:  Finance News
Rozi Jones
22nd February 2019
slow down road
"It seems the country is still split on their view on property price growth in the years to come."

Just one in five homeowners expect an increase over the next 12 months with this growing to over a quarter (27%) next year and a third (32%) for 2020.

40% of homeowners in the capital do not expect to see any property price increases in the next three years. However, many expect the London property market to bounce back with a third (31%) predicting values to rise in 2020 and 2021.

Elsewhere in the UK, Scottish and Welsh residents predict tough times ahead for property values. Over half (53%) of people in Wales do not expect to see values increase in the next three years with over a quarter still expecting prices to fall in 2021.

In Scotland, 32% of people expect a decrease in values this year with 29% in 2020 and 22% in 2021.

Leeds (29%), Bristol (24%) and Newcastle (27%) have the biggest percentage of homeowners predicting rises next year with 35% of people in Birmingham and 34% in Southampton forecasting prices to increase when we hit the year 2021.

Angus Elphinstone, CEO of AnyVan, commented: “Our latest property research gives a good indicator of the sentiment of British homeowners. While there have been recent statistics about the slow down of property transactions and areas experiencing falling values, it seems the country is still split on their view on property price growth in the years to come.

"Things will become a lot clearer once we leave Europe, but with 41% of the nation not expecting property price increases in the next three years, it’s clear to see Theresa May and her government have a lot of work to do."

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