Growth in house prices is expected to drop by more than half to 1.6%, with London and the South East being the hardest hit, economists warn
City & Finance Reporter for the Daily Mail
House prices will more than halve, economists warned
House prices will more than halve, economists warned.
In a quarterly report, KPMG said it expected the rate of growth to drop from 4.5 percent last year to 1.6 percent in 2020.
The auditor blamed high prices, uncertainty and rising interest rates, with the slowdown likely to be most felt in London and the Southeast.
In the capital, it is predicted that prices will fall by 0.7 percent next year.
Official figures last month showed that British house prices had only risen by 3 percent in the 12 months to June, the slowest increase in five years.
KPMG also said that it expected the economy to grow by 1.4 percent next year if there is a & # 39; friction light & # 39; Brexit would be.