Brexit (departure of the UK from the EU) and rising interest rates slow down the demand for housing in the UK. According to experts, these factors will lead to a sharp slowdown in house prices in the local market in 2018.
House price growth will be weaker than inflation in the UK next year and may even approach zero, RICS predicted.
According to RICS economists, the continued economic and political uncertainty due to Brexit, the decline in real wages, weak consumer confidence and the problems of availability of mortgage loans can affect the growth of house prices in 2018.
In the UK as a whole, prices for residential real estate will grow by 1.3%, but in London - will fall by 0.3%, the Guardian reported.