Knight Frank research chief: The mood music has changed but our forecasts remain on track
Tom Bill explains how the property market landscape has altered over the last 90 days, and why the next three months will provide some more clarity about the longer-term prospects.
Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.
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Top-flight housing market analysts have dramatically raised their expectations for house price growth this year, revising the 2024 forecast up from a -4% drop to a +3% increase.
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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.
‘There doesn’t need to be a recession to dampen the mood in the UK housing market’ – Knight Frank
Knight Frank's research team assesses what the Bank of England's slashed forecasts mean for the property market.
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