Zoopla UK House Price Index – JULY 2023

<p><strong>Zoopla UK House Price Index – JULY 2023</strong></p> <p><strong> </strong></p> <p><strong>Executive summary</strong> </p> <p> </p> <p>• Annual UK house price inflation slows to +0.6% </p> <p> </p> <p>• Modest annual price falls of up to -2.2% concentrated in southern England and markets with an average price over £300,000 </p> <p> </p> <p>• Affordable markets in economically active areas still registering annual house price inflation of over 3.5% </p> <p> </p> <p>• Higher mortgage rates have reduced demand by 18% in last 2 months </p> <p> </p> <p>• Rise in mortgage rates appears close to peaking - likely to return to the 4-5% window this autumn. The key risk is higher rates for longer </p> <p> </p> <p>• Resumption of modest price falls expected in H2 2023, concentrated across southern England in response to higher mortgage rates. </p> <p> </p> <p>• UK prices still on track to be up to 5% lower over 2023</p> <p> </p> <p> </p> <p>(Watch/Listen) <a href="https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-july-2023/">https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-july-2023/</a> </p> <p> </p> <p>#fifeproperty #fifeestateagent #housepricegrowth #buyerdemand #housepriceinflation #reducedmortgagedemand</p> <p> </p>