House prices in London, South and East England have experienced a decline, while Scotland's markets remain relatively stable. This has resulted in a slowdown in house price growth, with a predicted average decline of two percent over 2024. The number of house sales has also decreased, with cash buyers accounting for a larger proportion of transactions.
There has been house price falls in London , South and East England, and more than half for the rest of England and Wales. However, just less than two fifths of markets in Scotland registered price falls.
However, Zoopla predicted that house prices will fall more slowly in the future, averaging two per cent over 2024 with one million home moves.Presently, Zoopla said the scale of price falls has been “modest”, remaining below five per cent in all markets. It comes as the proportion of cash buyers – people who have the money immediately available to purchase a property, and do not need to take out a mortgage – has swelled this year.
There have been about 60,000 more properties bought with cash this year than throughout 2022, it estimated.
House Prices London South England Scotland Market Decline Growth Sales Cash Buyers
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