Good news for aspiring house buyers, bad news for property owners: house prices are set to take a nose-dive next year. According to the Centre for Economics and Business Research, prices are set to fall about 5.6 percent in 2017 with the priciest areas of London worst affected. Property value growth will begin to dip in the last quarter of this year before slowing to 2.6 percent next year.
No prizes for guessing it's all down to Brexit and fears over uncertainty of our country's future. The consultancy has cited factors including accelerating inflation, increasing unemployment and slowing business investment for the plunge.