JLL’s latest residential forecast has predicted that house prices across the North West are due to increase faster than any region outside of Greater London over the next five years, by more than 18%.

JLL is forecasting that prices are set to rise by 2% in 2017 alone. Average growth across the UK is expected to be 0.5%, while values will increase by 1% in Greater London, over the year.

Its report concludes that Brexit uncertainty will dominate UK housing markets over the short-to-medium term, but that the national market will remain reasonably strong and active despite the greater uncertainty and slower economic growth resulting from Brexit.

Across the country, transaction levels are forecast to decline from around 1.22m this year to 1.08m next year, an 11% fall, as uncertainty causes some households to defer house purchase decisions.

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