The truth, of course is that no-one knows, as with anything to do with the future there are only educated guesses, based on looking at what has happened in 2018 and also bearing in mind major events for 2019.
One of these events is Brexit and the continued uncertainty as to what will actually happen with regard to leaving with a deal, when that happens, and indeed if that happens at all. Because markets in general and indeed people themselves don't like uncertainty, and there is uncertainty with Brexit, then this could have a negative impact on prices in 2019. However, since most businesses don't really want Brexit and it is seen by many experts as bad for the economy, then if Brexit were not to happen then that could suddenly lead to a positive impact on prices. Equally, a deal seen as 'bad' going through could have the reverse impact. So, no-one really knows.
The market was fairly flat in 2018, and many expect that sales volumes in 2019 will be at roughly the same level, possibly up a little bit or possibly down a little bit, but with not many expecting significant growth in sales volumes.
What about first-time buyers, and 2019, is it a good year to buy your first home or should you wait a bit longer? As ever, only someone with a crystal ball can tell you the answer to that. Brexit uncertainty makes it particularly tough to call what will happen in 2019 to house prices. It is probably fair to say the most common opinion among experts is that house prices will stagnate in 2019 with probably a small decrease in sales volume.
If that prediction turns out to be true, then it means first-time buyers could hold on a little longer and save more deposit to reduce the size of the mortgage they will need in the knowledge that house prices are flat and therefore they may be able to buy a similar property at a similar price a year later with more money in the bank. However whilst that is the generally agreed national picture it will be important to keep on top of what happens in your area, as inevitably there will still be some areas that outperform and others that underperform general expectations. So take a look at what happens to prices in your area in the first few months of the year to see the trends.
If you are going to buy your first home in 2019 then good luck!
Last update: 15 Mar 2019
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