According to lender Halifax, the downward pressure on UK house prices is expected to persist into next year. The recent decline in house prices has pushed the average UK home to levels last seen in early 2022, at around £278,601. Despite the ongoing decline in house prices, the shortage of houses on the market is expected to provide some support to prices. However, with interest rates set to remain high for a prolonged period, there will likely continue to be pressure on house prices. Source:– Halifax warns downward pressure on house prices will last into next year: https://www.theguardian.com/business/live/2024/oct/04/halifax-house-price-index-uk-economy-us-jobs-report#block-633a08dd8f082e16436dbfa6

Source: The Guardian October 06, 2023 08:10 UTC