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Hometrack UK House Price Index – February 2023

by | Mar 15, 2023 | Clients

The Hometrack UK House Price Index analyses housing market trends at a city level on a monthly basis – across 20 cities, plus regions, and nationally.

Executive summary

  • Annual house price inflation slows to 5.3% down from 8.6% last year
  • Buyer demand and sales volumes are 20-50% lower than a year ago but slightly ahead of the pre-pandemic years (2017-2019)
  • Sellers having to accept an average 4.5% discount to the asking price to achieve a sale – the highest for 5 years as a buyers’ market takes hold
  • Average discount to asking price is £14,000 meaning sellers are having to forgo a third of their pandemic house price gains
  • Broad based repricing of housing underway – UK house price inflation set to move into low negative year-on-year by summer
  • Market is still on track for a soft landing with modest price falls of up to 5% and 1m sales in 2023

You can download the latest full report online from the Hometrack website.