Medium-term outlook for UK housing market

We take a quick look at some of the property forecasts for 2023

Rental price growth is set to outpace sales price growth over the next two years. Driven by a shortage of stock and increased demand, rental growth averaging 3% per year is anticipated for the next 5 years.
The average of the forecasts we have collated suggest UK house prices will fall by a total of -7% over the course of 2023 and 2024. At worst a fall of 10%, which is being forecast by some, will only take prices back to the summer of 2021.
A decline in the number of homes sold in 2023 is likely, taking the annual total closer to 1 million, from 1.3 million expected this year.
On a positive note, there is already evidence of improving affordability and choice in the mortgage markets and if this continues it should help to boost levels of buyer demand.
Source: Dataloft, OBR, HM Treasury (Independent average), JLL, Savills, Knight Frank, CBRE, Rightmove, Zoopla, UK Finance

Get in touch with us

First Name

Last Name

Your Email Address

Mobile Phone

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

The Typical British Housing Journey

If you step back, a familiar pattern emerges. We rent when young, buy as life settles, and often own outright later on. Yet it’s not the same for everyone, with more people renting into later life. Property reflects life stages, choices and timing. To learn more, click the link and read on.

CLICK HERE >

Best Week for Residential Sales in 45 weeks...

Against a noisy global backdrop, the UK housing market has quietly surged, posting its strongest week for sales agreed in 45 weeks. Demand hasn’t vanished, it has sharpened. Well-priced homes are moving fast, while overpriced listings linger, making strategy and timing more critical than ever.

CLICK HERE >