The 2019 property market will be shaped by slow growth, stretched affordability and political uncertainty, according to Zoopla.
House prices are predicted to remain broadly flat across the UK as a whole with significant differences across the regions.
Whilst many commentators are predicting London house prices will fall in 2019 opinions vary on the extent of the potential fall.
Hansen Lu, property economist at Capital Economics, says: “London has seen a build-up of homes that are struggling to sell and a rise in more determined sellers. Overall we expect house prices in London to fall by 5% during the year.”
Richard Donnell, insight director at Hometrack , says: “We expect prices to continue to fall in most areas of central London. Our projection for a 2% fall in overall London prices.”
Aneisha Beveridge, head of research, Hamptons International expects property values in the region to fall by 2% during the year with prices in the south east likely to dip by 1%.
Beveridge says: “Less housing wealth leaving the capital will restrain demand in the prime commuter spots in the east and south east.”
Aneisha Beveridge expects prices to dip by 0.5% in the West Midlands and to fall by 1% in the East Midlands.
Adam Brewster, associate director at Strutt & Parker Market Harborough believes the market is already showing signs of a slowdown.
However, he expects the market to bounce back in the second half of the year, once uncertainty over Brexit has cleared.
Hamptons International expects property prices in the region to rise by 1% in 2019; the highest level of growth it is predicting for any area.
Aneisha Beverage expects prices to rise by 7% in the coming three years but cautions that future growth will be dependent on some areas unlocking their potential through regeneration or infrastructure developments.
Richard Donnell says: “In northern regions the housing cycle is reasonably strong but there are pockets where local economies are weak, and this is acting as a drag on price rises.”
Wales, Scotland and Northern Ireland
Hamptons International expects Wales to see growth of 1% in 2019, with house prices expected to rise by 0.5% in Scotland.
Richard Donnell believed that more affordable cities, such as Glasgow, could see increases in property values of 5% next year.