The Royal Institution of Chartered Surveyors reports that stocks on estate agents’ books are close to all-time lows, which helps sustain house prices as more buyers chase fewer properties. Thus, house prices are not expected to fall, but house price inflation is likely to slow over the next few years.
Savills says it sees “no strong drivers for house price growth over inflation in 2018”, and that with mortgage affordability increasingly constrained, any house price growth will be driven by earnings growth.
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