UK Housing Prices Stabilize with Potential for Recovery in 2024

After significant declines earlier in 2023, UK property prices are expected to stabilize, with a potential upturn in 2024.

This trend follows the Bank of England’s decision to pause interest rate hikes, which is providing some relief to buyers and sellers alike.

London’s prime property market, in particular, shows promise, as international and cash buyers keep transaction levels steady.

Analysts forecast a modest 7% drop in UK house prices for 2023, with the possibility of slight gains in high-demand areas like central London.