House prices forecast to dip by 2.1% in next three months

House prices forecast to dip by 2.1% between December 2019 and February 2020, reallymoving has predicted in a report on the market.

However annual growth should remain positive, at 4.5% in February 2020.

Annual house price growth stands at 3.3% as of November 2019.

Two regions of the UK, the East (3.1%) and the North East (0.3%) are expected to see average price rises during the three months to February 2020, with values in the rest of the UK set to see prices decline at the beginning of the year.

Particularly heavy falls are forecast in Wales (-15.4%), Northern Ireland (-5.8%) and Yorkshire & Humber (-5.5%), although smaller datasets are likely to contribute to volatility of data in these areas.

London is expected to see prices fall by 3% over the next three months, but as the market most affected by Brexit uncertainty, it could be the first to experience in an uptick in buyer activity, transaction levels and ultimately prices if Brexit is resolved with a deal and a departure at the end of January.

Kindly shared by Property Wire