Housing Market Forecasts: Autumn 2023

Why rents are set to grow four times faster than house prices over the next four years

1 - Introduction

Some of the British fascination with property stems from the surprises it springs – and this has been a year with more than its fair share of surprises.

2 - House price forecast

Despite rising rates and the cost-of-living crunch catching many households off guard, it’s becoming increasingly clear that the house price crash that some forecasters envisioned hasn’t materialised.

3 - Transaction forecast

Transactions have taken a greater hit than property prices as households faced with higher mortgage rates put relocation plans on hold.

4 - Rental market forecast

There’s a strong argument that the Bank of England’s quest to quell inflation has hit the rental sector harder than any other part of the housing market. With rates set to stay higher for longer, this trend is unlikely to reverse anytime soon.

5 - Six trends for 2024

Here we outline six trends to look out for during the year ahead.

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Housing market forecasts: Autumn 2023