There will be an “end to the Golden Age of house prices”, with values growing by just 1% across the UK next year while falling in London, according to a forecast by property consultancy JLL.
It said that in the next five years, house price growth will be far slower than over the past 20 years, adding that “consumers and industry participants will have to adapt and become comfortable with the new state of play”.
Across the UK, average growth is expected to rise to 2% in 2019 and 3% in 2021, far lower than the average of the last 20 years of 6.9%. Transactions are also set to rise from 1.18m next year to 1.3m in 2022.
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