Could Property Market re-build in 2019?

Here at Downs, we quite often keep an eye on house prices and their effect on the local economy. Whilst there has been a cloud over the growth of house prices, could there be better things on the horizon for 2019?

In our most recent blog we included stats from Nationwide that painted a rather dull picture of flat-lined house prices and stalling sales. In more recent news, January 2019 marked a near all-time low on the past six years, as house prices grew at the slowest annual rate.

The result is somewhat of an anomaly considering there is otherwise a pretty solid economic outlook. More people than ever are currently in employment, there is strong wage growth and low inflation has led to lower borrowing costs and lower mortgage rates, potentially freeing up disposable cash.

However, building society, Nationwide, has voiced concerns that house prices had almost ground to a complete halt “due to the impact of the uncertain economic outlook on buyer sentiment.” There could also be other factors at play, such as the time of year. December and January are historically slow months for property selling, and, if the country maintains its employment levels, there is a chance that the housing market will pick up during 2019.

The last time Nationwide’s annual price growth was so weak was back in November 2013, when the country was still recovering from the recession. A survey by the Royal Institute of Chartered Surveyors (RICS) echoes the concerns, saying that the outlook over the next three month is more likely to be more of the same – and that this is the worst level for 20 years.

At least, if the sluggish house prices are due to uncertainty, it could potentially improve during 2019. Prospective house buyers may well wait until after Brexit before making their purchase. However, whilst this may cause a temporary spike in sales, it is also a possibility that the situation could force sellers to attract buyers with lower prices in the interim.

If you have any questions relating to the purchase of your property, whether residential or commercial, then contact our expert property team here at Downs Solicitors to see how we can help.

More blog posts from this author

Could the UK housing market see strong growth in coming years?

Property prices have continued to climb during the pandemic and many industry experts are wondering if market conditions are sustainable post-Covid. Early signs show that despite a stall in 2021, there are brighter skies ahead. 

Speculation that the Stamp Duty Land Tax holiday/reduction could be extended

Ahead of next week’s Budget, it looks like the Chancellor has answered calls to extend the Stamp Duty Land Tax (SDLT) holiday deadline for three more months until the end of June, according to an interview the Times has published with Mr Sunak.

COVID-19 sees surge in demand for countryside living

Until March this year, we were all busy worrying about getting a seat on the train during a busy commute, or long queues in Starbucks. Then, along comes a pandemic and suddenly, all of these things seem irrelevant - so much so that people are actually opting for a quieter life outside of the cities for the first time in decades.

More blog posts from this sector

Coronavirus and Sick Pay

As new variants of the coronavirus are emerging and the pandemic continues, employees will continue to take sick leave due to testing positive for the coronavirus and/or being required to self-isolate.

What the new lockdown means for businesses, employees and workers

The third lockdown in England legally came into force on 6 January 2021. How long it will last is uncertain. At least until mid-February and possibly until late March. Vaccination provides a route out of the pandemic, but businesses need to survive this final and possibly longest of the lockdowns.

We are open

During these uncertain times, it is good to know you can count on us.

Even after the recent Government announcement of another national lockdown we remain open for business and are here to help you.

Our Team

Meet all of the team at Downslaw


15A High Street
KT11 3DH

T: 01932 589599
F: 01932 505087

DX: 46102 COBHAM


156 High Street

T: 01306 880110
F: 01306 471230



The Tanners
75 Meadrow

T: 01483 861848
F: 01483 431965