Asking prices drop but the housing market in 2023 has performed better than expected

However, this year’s November drop is the largest in five years, indicating that new sellers are also increasingly adopting more realistic price expectations from the outset of marketing to tempt potential buyers to act. As we approach the end of 2023, key indicators point to a market that while challenging, has been more positive than many predicted.

Meanwhile, there are yearly price declines in the Midlands and all Southern regions, however the more affordable areas of Wales, Scotland and the North of England have seen asking price rises, as the changed market conditions affect local housing markets in different ways. “Last week, the Bank of England opted to hold the Base Rate for the second consecutive time, which has supported buyer demand and helped to keep it in line with 2019’s level.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Institute of Grocery Distribution: Food company experts meet Yorkshire pupils for new skills initiativeA major employability scheme connecting thousands of young people with technical, engineering and digital careers in Yorkshire has been launched to help address skills shortages.
Source: The Yorkshire Post - 🏆 39. / 66 Read more »