UK House Prices Expected to Rise 3% in 2024

Revised forecasts come amid growing confidence that the Bank of England will cut interest rates as inflation cools.

UK house prices are expected to rise by 3% in 2024, according to real estate consultancy Knight Frank, revising its previous forecast of a 4% drop.
The average asking price for a British property now stands at £359,748, a 0.7% decrease compared to last year, but has seen an increase of about £4,500 this month.
The number of new houses coming onto the market for sale is 15% higher than this time in 2023, outpacing the 5% increase in demand from buyers.
Interest from potential buyers was highest in London and the North East of England during the first week of January.
Financial markets predict the Bank of England will cut interest rates several times in the coming months as inflation cools.