UK house prices forecast to grow by 13.1% over the next five years

The Real Estate Market Outlook Report from global real estate specialists CBRE forecasts that house price growth in the UK will be relatively moderate at 1.8% in 2019 with the property market affected by a number of economic, political and financial trends.

A breakdown of the forecast figures shows that the firm expects house prices to increase by 1.8% in 2019, 2.3% in 2020, 3.4% in 2021, 3.7% in 2022 and then just 1.3% in 2023, but this amounts to a cumulative 13.1% over the next five years.

In the lettings market it forecasts a rise of 1.3% in 2019, 1.9% in 2020, 2.5% in 2021, 2.7% in 2022 and 2.6% in 2023, a cumulative 11.4%.