The UK house price growth is set to slow in 2016
Posted 15 Dec 2015 09:00:00
According to a new report, the growth in house prices in the UK is set to slow to 4% to 6%. House prices in the UK are expected to rise in 2016, making it increasingly difficult to get on the housing ladder. The price growth is expected to slow more sharply in London.
The report states that the levels of house building remain low but improvements are expected which will help balance the demand and supply. House price growth has been robust through 2015 and the housing demand has been boosted by the improving economic conditions and strengthened household finances.
A number of factors will affect the house price growth beyond 2016 such as increases in bank base rates, gradual rate rise and increasing incomes.