UK homes price rise to cool, says poll

Strong demand: Employees work on the upper floors of new homes under construction at a new housing development in Chelmsford. Average home prices will increase 8.7% in the UK this year, market experts say. ―Bloomberg

LONDON: A surge in British property prices is set to ease over the coming years, but homes will become less affordable as interest rates rise and values stay high, a Reuters poll of housing market specialists has found.

Record low borrowing costs, along with a desire for more living space as millions of Britons worked from home to try to contain the spread of coronavirus, mean average home prices will increase 8.7% this year, the Nov 18-30 poll of 17 market experts predicted.