SALES NEWS: Bank tips south west England to see UK’s largest house price rises
The value of homes in south west England will rise by an average of 33 per cent by the end of 2019.
That’s the forecast from BNP Paribas, a bank with a track record of accurate predictions about property prices.
The south west increase – which the bank says is primarily down to high demand from people moving from elsewhere in the UK, plus a relative shortage of new homes being built – is higher than those forecast for ‘hot-spot’ locations like London and the south east.
The bank says part of the reason for the south west’s spectacular growth will be because in some parts of the region prices are still no higher than they were back in 2008, when the economic downturn began. “There’s a degree of catch-up going on” says a spokesman.