UK House Prices See Sharpest Annual Decline Since 2009
Despite Falling Prices, Buyer Confidence Rises as Mortgage Rates Decrease
- UK house prices have seen their sharpest annual decline since 2009, with London prices falling 6% in the year to November.
- Average house prices across the UK are now £285,000 after a 2.1% year-on-year decline.
- Despite recent falls, housing market experts suggest buyer confidence is rising as mortgage rates fall.
- However, recent inflation figures may delay expectations of a Bank of England base rate cut.
- Private rental prices in the UK rose by 6.2% in the 12 months to December 2023.
Evening Standard 
