A recent report indicates UK house price growth will explode following a couple years of Brexit negotiations. This is quite favourable news for house owners sitting on the fence currently about whether or not to sell a property now or wait until later. By the year 2021, house prices are expected to increase in value by an estimated 24% over today’s prices. For the average home, this is a £52,000 surge in price.

The Centre for Economics and Business Research has released a report which is quite kind to all eyes concerned with the future of house prices. The report indicates house prices will grow by an estimated 25% in the coming few years. The report also outlines ways in which the housing market is already leaning towards stabilisation after such a tumultuous year in 2016.

CEBR economist Kay Daniel Neufeld commented on the latest report, saying: “Already towards the end of 2016 indicators pointed to a stabilisation in the housing market, a trend that has continued in the first months of 2017.

“Transaction numbers are slowly recovering from the introduction of a stamp duty surcharge on second homes in April 2016, which has led to considerable distortions in the market.”

Neufeld added: “Mortgage approvals, are nearing post-crisis heights, boosted by low interest rates and favourable borrowing conditions.”

CEBR is estimating growth of house prices will be slow over the next couple years, and then explode after that.

Remortgage activity is currently strong and is expected to stay that way for the short term, at least, according to those close to the housing market. Low interest rates and lender competition continue to drive remortgage strength.