North-west cost of living

Five-year forecast: House prices in north-west still expected to excel

The latest property market predictions from Savills have backed up earlier forecasts that the north-west of England will outperform the rest of the country over the next five years.

A new report published by Savills looking at the latest property market performance has painted a relatively subdued picture of the sector over the past month, although house price growth is still in line with the real estate firm’s predictions earlier this year of a 1% uptick over 2018.

The five-year forecast outlines a 14.2% average rise in the UK’s property prices between 2018 and 2022, with the pace expected to pick up after this year to a 2.5% increase in 2019, a 5% increase in 2020, and then back to 2.5% growth for both 2021 and 2022.

North-west still ahead of the pack

However, while London holds the overall growth expectations back with just a 7.1% property price rise predicted over the next five years – the lowest in the country – the north-west remains at the helm with a huge 18.1% boom expected to take place by 2022, with the biggest upsurge predicted in 2020 of an average 6%.

Other above-average performances are expected to be seen in the north-east and Yorkshire and the Humber (each at 17.6% growth over five years), Scotland with 17%, Wales with 15.9%, and both the East and West Midlands with 14.8% growth.

A slow but stable market

The latest Savills survey also looks at transaction volumes across the country, using data from HM Land Registry and Registers of Scotland. It reports that while there has been a decline throughout the UK in recent months, the falls are “particularly pronounced in areas of low affordability, such as London and the south”.

The report adds: “All regions have seen a fall in activity, with London at 27% fewer transactions in June than the same month last year. Scotland has performed the best, with only 6% fewer transactions in June compared to the previous year.”

In terms of rental growth, there was a very small decline in the year to June of 0.9%, according to figures from the Office for National Statistics (ONS), with the East Midlands performing the most strongly with a 2.7% rise over the year, while London rents had fallen by an average of 0.3%. For buy-to-let investors seeking the best returns, it seems the capital is no longer providing the results it was once most known for and more landlords are opting to branch out into other areas to grow their profits.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT