News at Ware & Co | 04/01/2024

  • Looking across the average of published house price forecasts, UK house prices are expected to soften marginally in 2024 (by an average -2.1%). Renewed price growth is expected to be evident in 2025, with prices forecast to rise by 3.0%.
  • While perhaps not sufficient to drive strong price growth in 2024, activity levels are expected to pick-up with tentative improvements in affordability and more certainty over the direction of interest rates.
  • Rental price growth is forecast to outpace sales price growth over the next two years. Although rents are forecast to continue to rise, it is at a more modest pace than the last two years, set to average 3.6% over the next five years.
  • Source: #Dataloft, HM Treasury (Independent average), Nationwide, CBRE, Savills, Knight Frank, Rightmove, JLL, Chestertons, Zoopla