2020 forecast of 2% price rise as election gives window of certainty

News at John Hoole | 11/01/2020

Rightmove forecasts a 2% rise in price of property coming to market in 2020 as the majority government gives home movers a window of certainty for an active spring moving season.

Rightmove’s property expert Miles Shipside said: “With much of the political uncertainty removed, we expect that the number of properties for sale will recover as more new sellers come to market, making up some of this year’s lost ground.

“However, property supply is still limited, with estate agents having the lowest proportion of properties available for sale in two years, and this will fuel modest gains in the national average asking price of property coming to market.

“The fundamentals remain sound with low interest rates, lenders competing to lend, high employment, and average wage growth outstripping house price growth and helping buyer affordability.”

Rightmove measures the prices of 95% of property coming to market, and while our prediction of a 2% price rise in 2020 is more than twice the current annual rate of 0.8%, it’s still a relatively marginal increase as it’s a price-sensitive market.

John Hoole Estate Agents are pleased to offer FREE valuations of properties in the Brighton and Hove area.

Article taken from Property News 16/12/19