26th October 2018

With the Bank of England predicting the housing market is set to remain stable and house prices to rise into 2019; Roger Parry & Partners say this is a positive sign for anyone considering selling their property in the near future.

Every three months, the Bank of England Monetary Policy Committee (MPC) forecasts the likeliest path for growth in the UK economy over the next two to three years in its Inflation Report. Based on a mid-range outcome for Brexit, the MPC’s latest forecast for housing, across the UK, is that mortgage approvals are projected to remain stable and UK house price inflation is expected to rise by a little over 3% by mid-2019. The MPC also thinks that GDP (Gross Domestic Product) growth in the UK will stay around 1.5-2% over the next two-three years, meaning interest rates may rise, but only slightly at 1.25%.

Mark Hudson, Sales Negotiator for Roger Parry & Partners said, “The latest news coming from the Bank of England is just what potential sellers want to hear right now. It shows confidence in the current housing market with positive signs that house prices will rise going into the new year.

Mark continued, “Over the past few years, the market has been stable, with mortgage approvals remaining unchanged since mid-2016 despite low interest rates. This is a positive sign from the Bank of England, despite the uncertainty of Brexit in 2019.”

If you looking to sell your property and would like to use the professional estate agency services of Roger Parry & Partners to help sell your property, please contact the Shrewsbury, Oswestry, Welshpool or new Llanidloes office.