House Price Growth Expected to Take off in Coming Years

House Price Growth Expected to Take off in Coming Years

Predictions forecasting growth within most sectors of the UK housing market have been scarce so far this year, especially in regard to growth of house prices. Uncertainty created around the post-Brexit era has led to up and down months within the market this year and many experts are hesitant about predicting what will take place through the end of the year. One new prediction is starting to gain traction. House price growth is now forecasted to see significant improvement in the coming months compared to mediocre growth seen the last few months.

According to a forecast by Barclays Bank, house price growth will likely be beyond 6% in the coming years. This growth will take place due to buy to let investors and millennial investors with high net worth.

The bank expects to see higher amounts of growth in the northern region of England from job opportunities and more business start-ups.

As seen in past years, London is expected to see more property price growth than other areas. Overall, growth is expected to reach almost 12% in coming years.

Dena Brumpton, chief executive officer of Wealth and Investments at Barclays, commented on the latest data to emerge, saying: “It’s encouraging to see that property is still viewed as an important part of the investment portfolio with high net worth investors typically owning three properties and over a quarter planning to buy property because they believe that it offers long term investment security.

“There is also increasing confidence among property investors, as many are taking a long-term view when it comes to putting money into property.”

Brumpton added: “It’s also interesting to see from our research how investment prospects are emerging outside of the established property heartland of London and the South of England, with economic growth and employment opportunity fueling growth in hotspots across the UK.”

Obligation Free Remortgage Quotations

Get a Quote »