Property websites such as Rightmove and Purplebricks have already upgraded their growth forecast for asking prices in 2020, with online estate agents estimating prices could rise by up to 13 per cent next year.
Prior to the EU referendum in June 2016, the annual growth rate of property prices was more than 8 per cent, but it has declined ever since as uncertainty over whether the UK will be leaving the EU caused reluctance with potential buyers and sellers over fears prices could soar or plummet at any moment.
Natasha Firman, Director at Winkworth in Tunbridge Wells, says they expect to see the market bounce in the New Year, and are urging homeowners to get their property on the market soon to take full advantage of the anticipated heightened activity.
She told the Times: “We’re feeling very positive for what’s to come for the property market next year.
“After what has been a prolonged period of political uncertainty, we feel that this is a momentous occasion.
“And we have a huge amount of pent-up demand from buyers which we expect to be unleashed in the New Year.
“Of course, we’re not out of the water yet as we still have Brexit to navigate, but we feel strongly that now, with a solid majority in place, this new Government will bring closure to the waves of uncertainty felt over the past few years.
“Those looking to take advantage of this pent-up demand should instruct an agent soon, so their property is on the market and ready to be seen by the huge amount of buyers in the New Year.”
