Average house price forecast to rise £86,300 by 2029

HOUSE price growth expectations have been reduced for this year amid wider global uncertainties, according to a forecast.

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But the potential for house price growth over the next five years has been upgraded, due to a more relaxed approach to mortgage affordability tests, according to the predictions from property firm Savills.

It expects to see house prices across Britain rise by 1.0% on average across this year and by 24.5% over the next five years. Previously, it had forecast house prices to increase by 4.0% this year, with a 23.4% rise over the next five years.