Zoopla UK House Price Index – OCTOBER 2023

<p><strong>Zoopla UK House Price Index – OCTOBER 2023</strong></p> <p><strong> </strong></p> <p><strong>Executive summary</strong> </p> <p> </p> <p>• House price inflation has slowed from 9.6% to -1.1% over the last </p> <p> year </p> <p><br></p> <p>• 4 in 5 housing markets are registering small annual price falls </p> <p><br></p> <p>• Regulation of mortgage lending has built market resilience to </p> <p> higher mortgage rates although household buying power </p> <p> remains lower </p> <p><br></p> <p>• Transactions have been hit hardest and will be 23% lower than </p> <p> 2022 </p> <p><br></p> <p>• First-time buyers and cash buyers account for 2 in 3 sales in </p> <p> 2023 </p> <p><br></p> <p>• Low price falls and 5% mortgage rates mean housing is still </p> <p> expensive </p> <p><br></p> <p>• We expect UK house prices to fall 2% over 2024 as rising </p> <p> incomes steadily repair housing affordability </p> <p><br></p> <p>• 2024 is set for another year of 1m sales. This could be higher if </p> <p> mortgage rates fall back towards 4% sooner than expected in </p> <p> 2024</p> <p><br></p> <p> </p> <p>(Watch/Listen) <a href="https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-october-2023/">https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-october-2023/</a> </p> <p> </p> <p>#fifeproperty #fifeestateagent #housepricegrowth #buyerdemand #buyersmarket </p> <p> </p>