UK house prices will defy gloomy predictions and 'rise this year' - The Times

The number of new properties for sale is 15 per cent higher than a year ago, Rightmove said

ALAMY

House prices are set to increase this year, according to a leading property consultancy that has reversed its gloomy predictions.

In October, Knight Frank forecast that average property values in the UK would be 4 per cent lower by the end of 2024.

But a faster-than-expected fall in inflation has prompted a change of heart and its analysts now think house prices will increase by 3 per cent instead.

Knight Frank upgraded its UK market predictions after a rate-slashing spree by mortgage lenders this month.

The five-year swap rate, which banks use to price their fixed deals, fell by one percentage point in the final quarter of 2023 as financial markets started pricing in a fall in the Bank of England base rate, which has

Adblock test (Why?)

https://news.google.com/rss/articles/CBMibGh0dHBzOi8vd3d3LnRoZXRpbWVzLmNvLnVrL2FydGljbGUvdWstaG91c2UtcHJpY2VzLXdpbGwtZGVmeS1nbG9vbXktcHJlZGljdGlvbnMtYW5kLXJpc2UtdGhpcy15ZWFyLXBzeHR0M2tsMNIBAA?oc=5

2024-01-15 00:01:00Z
CBMibGh0dHBzOi8vd3d3LnRoZXRpbWVzLmNvLnVrL2FydGljbGUvdWstaG91c2UtcHJpY2VzLXdpbGwtZGVmeS1nbG9vbXktcHJlZGljdGlvbnMtYW5kLXJpc2UtdGhpcy15ZWFyLXBzeHR0M2tsMNIBAA