Average UK house prices are likely to drop by anything from 1% to 7% this year, predicts Strutt & Parker – although the short-term impact “could be much gloomier” in some parts of Prime Central London.
Sales activity has “rallied noticeably” since May, report surveyors. But, before the Stamp Duty holiday was intrigued yesterday, the RICS noted “there are worrying signs that this rebound may quickly run out of steam.”
Landlords who sold a property in 2019 typically owned it for 9.1 years and sold it for £78,100 more than they paid for it. That’s 3% less than the average uplift for those selling in 2018 – but still equates to a gross gain of 42% on their initial investment.