House price growth in London has been surprisingly resilient. But with prices very high, interest rates set to rise and the stock of unsold homes growing, we expect a 3% fall in house prices this year. Meanwhile, all signs point to the weakness in transactions continuing, which in turn leaves the outlook for housebuilding subdued. That said, rental growth has edged back into positive territory and is likely to make further gains out to 2020, as the buy-to-let sell-off continues to weigh on supply.
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