Zoopla UK House Price Index – AUGUST 2023
Executive summary
• Annual UK house price inflation slows to +0.1%, lowest since 2012
• House price growth ranges from +1.7% in Scotland to -1% in London
• Profile of regional house price inflation linked to first-time buyer
affordability and the relative cost of renting and buying
• Housing transactions still on track for 1 million completions in 2023
• Sales completions 21% lower over 2023, the lowest level since 2012
• Cash buyer sales expected to hold in line with 2022 while mortgage-
backed sales likely to be 28% lower as higher rates impact demand
• Faster earnings growth improving housing affordability
• Lower mortgage rates key to improved demand and sales in 2024
(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-august-2023/
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