Savills predict static housing market until 2016

UK house prices will grow very little over the next five years, according to a residential property forecast by Savills.

The estate agents predict a two per cent fall in 2012, followed by three years of slight, but fairly static, growth.

Only in 2016 will growth really get going again, rising to 4.5 per cent.

The figures represent an 11 per cent fall in real terms and Savills expect that the property market will be at 2002 levels in 2016, on an inflation adjusted basis.

Source: About Property