Annual house price growth falls to 3%, but a 'soft landing’ could be in sight....Market report.

According to Zoopla’s most recent house price index, prices have shown 'modest' quarter-on-quarter falls of up to 0.7% across all regions and countries in the UK.

It continued that it expected low annual growth, and for house price contraction to come to -1% by the end of 2023.

The report noted that there was some regional variation in annual house price trajectories, with + 4.8% recorded in Wales, and - 0.5% in London.

The firm noted that around a quarter of homes available to buy in 2023 registered an asking price reduction, which is lower than earlier this year, and evidence of a possible soft landing for house prices.

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