East Anglia is forecast to see the largest house price increases this year - of 8% - amid average house price inflation of 6% across the UK, according to the RICS. The RICS housing forecast for 2016 points to a continuing shortfall in supply that will push house prices up further, outstripping any rise in household income. The North-east is likely to see more modest price rises with a predicted increase of 3%. Transactions are forecast to edge up to between 1.25 and 1.3 million, up from 1.22 million in 2015, with the strongest areas of the UK for transaction levels forecast to be the North-east, Wales, Scotland and Northern Ireland, continuing trends seen in 2015. The cost of renting is forecast to grow 3%.
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