Home sales ‘set to fall by nearly a quarter’

house prices estate agent

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.

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