Archives January 2020

Will 2020 mean a rise in house prices?

Will 2020 mean a rise in house prices?

Politically, 2019 was a tumultuous year, and to top it all off there was a general election in December. With a landslide victory for Boris Johnson’s conservatives it could mean an answer for Brexit and a little bit of calm. Political calm, can mean economic calm, economic calm can mean growth. And please pay attention to the word “can”. It is never a foregone conclusion.

But lets look at 2019 and the price rises that we have seen. Looking at the UK house price index on the governments website. There was generally a drop from August 2019 across all regions apart for the South East, though some stayed stable.

This is the statistics of the percentage change from August 2019 to the middles of November.

East Midlands – -1.2%

East of England – -0.4%

London – -0.1%

North East – 0.0

North West – -0.3

South East – 1.0

South West – 0.0

West Midlands – -0.4

Yorkshire and Humber – -0.1

See the government website here.

(you are now departing from the regulatory website, Coleshill Mortgage Services or Quilter Group are not responsible for the accuracy for the linked site)

Though these statistics are only from August to November. From January 2019 to October 2019 has seen a gradual rise with a little bit of a dip towards the end of this year as shown above.

January 2019 – Average house price was £228,393.

October 2019 – Average house price was £232,944.

See all statistics here

(you are now departing from the regulatory website, Coleshill Mortgage Services or Quilter Group are not responsible for the accuracy for the linked site)

So really was a very small increase up to October with only a small decrease up to November. 2019 though not a huge year for house prices they generall didnt

And the issue is, until the government release of their housing index, it will be hard to understand the full picture of the year.

So will the political calm, stop the little decreases that often come with a general election, which will not happen this year (we hope). With 2019 being stable for house prices does that mean 2020 will bring a good housing price growth, it is still hard to tell but the future is looking brighter. The Express mentioned that since the emphatic win for the conservatives that the housing market will take a little boost in 2020, but with no real firm statistics it is a little hearsay. But political certainty does usually mean positive economic behaviours.