PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/Zoopla-UK-House-Price-Index–NOVEMBER-2023-e2chksf
Executive summary
- UK house price inflation slows to -1.2%, down from 8.2% a year ago
- Price falls extend across country, but declines remain modest
- No acceleration of price falls in markets with highest values
- Greater realism on pricing supporting new sales volumes which are 15% higher than a year ago and 5% up on 2019 levels
- Homes for sale touches a 6-year high boosting choice and reenforcing the buyer’s market and downward pressure on prices
- Sellers accepting 5.5% off the asking price to agree sales, an average discount of £18,000 – the largest gap for over 5 years
- Discounts to asking prices for agreed sales are 6.1% in London and the South East (£25,000) and 4.8% (or £11,000) for rest of UK
