According to new data, London house prices fell by an average of £11,000 in the first month of 2023... and the trend is likely to continue.
and higher interest rates would lead to a slower housing market, particularly compared to the rapid growth of recent years.
‘As we move through 2023, that trend is likely to continue as higher borrowing costs lead to reduced demand.‘For those looking to get on or up the housing ladder, confidence may improve beyond the near-term.’But it’s expected that lower house prices and the ‘potential for interest rates to peak below the level being anticipated last year’ will lead to improvements in affordability.
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