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U.K. Home-Price Growth Expected to Slow in 2017

  • House values to rise 3% on lack of supply, RICS says
  • Central London property market will stabilize after declines
Aerial Views Of Residential Property In Bristol
Photographer: Chris Ratcliffe/Bloomberg

U.K. house-price inflation will slow in 2017 as affordability stretches potential buyers, according to the Royal Institution of Chartered Surveyors.

Values will rise just 3 percent and the number of transactions will see a moderate decline, RICS said in a statement on Wednesday. That compares with a year-on-year price increase of 6.9 percent in October, according to the most recent official data published by the Office for National Statistics.