There will be a two-year property market downturn with house prices falling between 5 percent and 10 percent by the end of 2024, according to the analytics company, the Centre for Economics and Business Research.
With interest rates continuing to go up and mortgage rates following this will cause house prices to fall due to the lack of buyers. According to Richard Donnell, of property website Zoopla 'The biggest casualty will be turnover'. He predicts there will be 200,000 fewer transactions in 2023. Read the full article by Melissa Lawford in the Telegraph