ZOOPLA UK HOUSE PRICE INDEX REPORT – JUNE 2023
Executive summary
• House price
inflation slows to +1.2% as quarterly growth rate turns positive following
pick-up in
sales activity over Spring
• Quarterly price falls set to return in H2
as higher mortgage rates hit buying power by up to 20%
• Jump in
proportion of sellers having to accept discounts to asking price of more than
5% in recent
weeks rises to 42%– returning to 2018 levels
• UK house prices still on track to fall by
up to 5% over 2023
• Further
downside risk if we see an acceleration in supply of homes for sale that boosts
choice and
further room for negotiation
• Anyone serious about selling in 2023
needs to be realistic on pricing
• Drawn out realignment of house prices and
household incomes ahead
Jim Parker provides an insight into the latest
house price index report.
(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-report-june-2023/
#fifeestateagent #fifeproperty #inflation #housepricerealignment
#supplyanddemand
