Zoopla UK House Price Index – SEPTEMBER 2023
Executive summary
• Annual UK house price inflation moves negative to -0.5%,
ranging from 1.6% in Scotland to -1.5% in the South East and
Eastern regions
• Demand ticks higher over September as market sentiment
improves
• Buyers unwilling to compromise on what they want in face of
higher borrowing costs, waiting for price falls and/or lower
mortgage rates
• Mortgage rates expected to fall slowly in Q4 2023
• Number of buyers will increase once mortgage rates get below
4.5%
• A buyers’ market remains - the average discount to the asking
price to achieve a sale up to 4.2%, the highest since 2019
• Average UK house prices on track to be 2-3% lower over 2023
(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-september-2023/
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