The consensus among the banks and property websites is that house prices are now falling. Read more: What’s happening with UK mortgage rates? What’s happening with UK house prices? How do house prices differ for different types of property?.What are the regional variations in house prices?.In this article, we look at if UK house prices will fall in 2023 and explain: Meanwhile, Halifax has reported that house prices have fallen in four consecutive months. Despite a significant year-on-year dip, the building society’s data shows prices only fell slightly in the month to July, with the average property in Britain now costing £260,828. Nationwide’s house price index for July showed the largest annual drop in UK house prices in fourteen years. Property website Zoopla has forecast prices to fall by 5% over 2023, as it found that demand for homes had fallen by 18% in the two months to July. If interest rates remain high for the long-term then house prices could fall by around 25% over the next five years, according to the Resolution Foundation, a think tank. We outline the latest market data and look at if house prices will fall this year.

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