Higher borrowing costs result in lower sales, while house prices have fallen by less than expected, says Zoopla
The number of homes sold in 2023 has fallen by 23% compared to last year, as the housing market adjusts to higher mortgage rates.
The report finds that higher borrowing costs have resulted in lower sales, rather than a big decline in house prices, with home moves dropping from just under 1.3 million to 1 million this year.
Already registered? Login here
Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Sign up below to receive:
It takes less than one minute….
… or subscribe for full access - Subscribe now