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Analysts predict a further fall in house prices in the UK

22.12.2023
Homesoverseas.ru editorial office
146
According to Halifax forecasts, house prices in the UK will fall by 4% in 2024, as high interest rates continue to affect mortgage availability.

The UK's largest mortgage lender said that the value of real estate in the UK will decrease by 2-4%, but expects a partial recovery in the market, as mortgage interest rates will decrease next year.

Analysts believe that property prices have held up better than expected this year, falling by just 1% to an average of 283,615 pounds, but this is mainly due to a lack of supply, not high demand.

House prices remain at 3% below the peak of 293,025 pounds reached in the summer of 2022, but about 44,000 pounds above the pre-pandemic level.

The picture of the real estate market in different parts of the country differs. In regions such as the south-east of England, house prices fell by 5.7% over the year, while in Northern Ireland they increased by 2.3%.

Source: The Guardian

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