UK House Price Index, September 2016 - PwC comments

Published at 10:19 AM on 13 September 2016

Commenting on the UK House Price Index, Thomas Fisher, economist at PwC, said:

UK house price growth moderates in July but no sign of a crash

 “Today’s data from the ONS shows a moderation in house price growth from 9.7% in the year to June to 8.3% in the year to July. But house prices still edged up by 0.4% between June and July.

“This suggests that market demand remained relatively resilient after the Brexit vote, despite some slowdown in mortgage lending. However, as many of these transactions will have been in motion since before the referendum, more data will be needed to make a proper assessment of how the referendum result is affecting the housing market.

“Our own expectation is that the UK housing market will cool not crash. In our main scenario, average UK house price growth is projected to decelerate to around 5% in 2016 and around 1% in 2017.”

Ends.

For further information please contact Tilly Parke: [email protected] / +44 20 7804 8761


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