UK House Price Index, March 2017 - PwC comments

Published at 10:06 AM on 21 March 2017

Downward revisions point to less buoyant housing market in advance of Article 50

The first official ONS and Land Registry house price figures for 2017 show that average UK house price inflation was 6.2% in the year to January, from a downwardly revised 5.7% in December (initially reported as 7.2% last month).

 Commenting on the UK House Price Index, Richard Snook, senior economist at PwC, said:

“Whilst 6% growth remains healthy, the significant downward revision to both the November and December figures portray a less buoyant market than previously thought. With the triggering of Article 50 now confirmed for March 29, we may be beginning to see the signs of the Brexit related slowdown that we anticipated last year.

“We expect house price growth for 2017 to be between 2% and 5%, which means a further slowing of prices over the next twelve months.

“The regional data, which can be volatile when viewed as a single month, shows the strongest performance was in London. Average prices jumped from £477,000 in December to £491,000 in January. The South East and East Anglia are also amongst the strongest regions with annual growth of 8.7% and 9.4% respectively."



For further information please contact Tilly Parke: / +44 20 7804 8761


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