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Hometrack UK House Price Index – July 2023

by | Aug 11, 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 UK house price inflation slows to +0.6%
  • Modest annual price falls of up to -2.2% concentrated in southern
  • England and markets with an average price over ¬£300,000
  • Affordable markets in economically active areas still registering annual house price inflation of over 3.5%
  • Higher mortgage rates have reduced demand by 18% in last 2 months
  • Rise in mortgage rates appears close to peaking – likely to return to
  • the 4-5% window this autumn. The key risk is higher rates for longer
  • Resumption of modest price falls expected in H2 2023, concentrated across southern England in response to higher mortgage rates.
  • UK prices still on track to be up to 5% lower over 2023

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