Nick Leeming, chairman of Jackson-Stops, said: “Despite economic headwinds, the property market remains on course for the months ahead, with only a marginal decrease in house prices reported despite many predicting a more dramatic decline.
Sellers have benefited from house price growth in recent years and even as this pace softens, low housing stock and stabilising mortgage rates are likely to insulate prices for the foreseeable future. The fastest growing region for house price inflation was the North East, with annual percentage change at 10 per cent in the 12 months to January 2023.
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