Knight Frank slashes housing market forecasts as buyers feel the squeeze
Agency now expects prices in the UK to fall by 5% next year and in 2024, wiping out the growth that took place during the second half of the pandemic.
Property firm prophecies "the end of a long period of uncertainty" in London and around the country - with positive growth on the cards for house prices, transaction volumes and rental values.
“House price growth is peaking as supply rebuilds and mortgage rates normalise," says Knight Frank's research chief, Tom Bill.
House price inflation is likely to "unwind" back to single figures across the UK, predicts Knight Frank, although Prime Central London is set for higher price growth as global travel resumes.
Companies in this articleKnight Frank
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