Why the UK’s housing slump may be ‘less painful’ for the wider economy than last time

Many prime markets are set for slower growth, predicts portal.

Dubai, New York, Geneva and Paris are likely to see top-end residential values rise next year, but other international wealth hubs could see prices fall.

Lloyds Banking Group now expects average UK house prices to end 2023 5.6% lower than they started the year, with a 'best case scenario' of -3.3% and a 'severe downside scenario' of -9.3%.