Posted 1/13/2024, 8:00:00 AM
Home Prices Seen Rebounding in 2023 as UK Housing Market Stabilizes
- Analysts upgrading UK house price forecasts for 2023 as downturn nears its end, expecting prices to start recovering from spring
- Faster drops in inflation leading to expectations of earlier interest rate cuts, fueling a mortgage price war
- Improving affordability as mortgage rates fall, clearing way for more people to buy houses
- House price growth providing economic boost and potentially lifting consumer confidence ahead of 2023 election
- But housing market recovery risks exacerbating generational divide as homeowners benefit while young renters struggle