Zoopla’s latest House Price Index has revealed that house price decline is now more widespread across the country. The impact of higher mortgage rates and cost of living pressure is impacting property values and weaker demand and reduced buying power have resulted in a rapid cooling of house price growth from 9.2 per cent a year ago to -1.
However, the Halifax postcode area, which has a host of attractive villages, including Hebden Bridge, is bucking the trend and is topping the UK table for annual house price growth with a rise of 3.6 per cent. The HX area’s profile has been boosted by TV series including Gentleman Jack and Happy Valley and the Piece Hall and its events, which have also brought people into the area..
The UK has seen a 23 per cent average decline in sales compared to this time last year and Zoopla believes housing transactions will stay flat at 1m in 2024, although this could improve if mortgage rates drop back towards four per cent over the first half of 2024. This would support a modest rebound in activity in the first half of 2024 as people who have delayed moving decide to return to the market.
Danmark Seneste Nyt, Danmark Overskrifter
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