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.
#fifeproperty #inflation #housepricerealignment #supplyanddemand
