Medium term outlook for UK housing market

As your trusted independent estate agent in Camberley, Chobham, Fleet and Yateley, the team at Waterfords look at the latest housing market figures and forecasts to help you make an informed decision about selling or letting your home in Surrey, Hampshire or Berkshire.

Rental price growth is set to outpace sales price growth over the next two years. Driven by a shortage of stock and increased demand, rental growth averaging 3% per year is anticipated for the next 5 years.

The average of the forecasts we have collated suggest UK house prices will fall by a total of -7% over the course of 2023 and 2024. At worst a fall of 10%, which is being forecast by some, will only take prices back to the summer of 2021.

A decline in the number of homes sold in 2023 is likely, taking the annual total closer to 1 million, from 1.3 million expected this year.

On a positive note, there is already evidence of improving affordability and choice in the mortgage markets and if this continues it should help to boost levels of buyer demand.

Waterfords are here to help

Waterfords are your trusted estate agent in Camberley, Chobham, Fleet and Yateley. Get in touch with a free, no obligation appointment to discuss your requirements. We are happy to provide advice on the current property and financial market, tailored to your specific circumstances.

Camberley: 01276 66566

Chobham: 01276 858589

Fleet: 01252 623333

Yateley: 01252 870222

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Source: Dataloft, OBR, HM Treasury (Independent average), JLL, Savills, Knight Frank, CBRE, Rightmove, Zoopla, UK Finance