Uncertainty reinforces soft housing outlook

Rising Brexit uncertainty only reinforces our weak outlook for the housing market. In our most likely scenario, we think transactions will dip this year before edging back up in 2020, all while house prices stagnate. That said, even with a no-deal Brexit, we don’t envisage a house price collapse. Meanwhile, we expect rental growth to rise across our forecast, as the sell-off among buy-to-let landlords persists.