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UK house price boom set to end in 2022, Halifax predicts

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By Reuters
UK house price boom set to end in 2022, Halifax predicts
UK house price boom set to end in 2022, Halifax predicts   -   Copyright  Thomson Reuters 2021

LONDON – British house prices might only inch up in 2022 after the rapid upturn seen this year, mortgage lender Halifax said on Friday.

House prices are likely to rise by around 1% next year following growth of around 8% this year, Halifax said.

“With the prospect that interest rates may rise further in 2022 to subdue rising inflation, and with government support measures phased out, greater pressure on household budgets suggests house price growth will slow considerably,” said Russell Galley, Halifax managing director.