Short supply to keep house prices high
Shortage of available property will hold prices up through 2017, says one of Kent’s leading developers.
John Elliott, managing director of Millwood Designer Homes, says Brexit had not had the negative effect on the market that some feared, and he expected it to remain fairly steady in 2017.
He said: “The fundamentals, in particular the shortage of property versus demand, have held prices up and will continue to do so. Price growth has slowed, but UK prices were 6% up in November on the previous year.”
John said most analysts predicted overall rises in 2017 to be around a couple of percentage points.
He added: “In Kent and Sussex, values will rise steadily and buyers will continue to benefit from the value gap between London and its surrounds.”