Uk House Prices Are Likely To Fall 10% Next Year, Estate Agent Savills Has Predicted

4th November 2022

Savills have released fresh housing market forecasts, ahead of the Bank of England decision.

And they show that after over two years of strong growth, the average UK house price is expected to fall by 10% in 2023 when interest rates are expected to peak at 4%.

They also predict that housing transactions will fall to their lowest in over a decade next year, to below 900,000.

There were 1.5m last year, we look to be on course to see 1.2m this year but Savills predicts that there could be just 870k in 2023.