UK House Prices Set for 2% Rise by Year-End

Increased market activity and more homes for sale drive upward trend, despite regional variations and high mortgage rates.

Average UK home prices expected to surpass £270,000, adding over £5,000 to current values.
Sales agreements have increased by 16% compared to last year, with properties selling for around 97% of the asking price.
London sees a mixed market with overall price declines but growth in some boroughs like Lewisham and Greenwich.
Mortgage approvals remain stable, with potential interest rate cuts by the Bank of England anticipated before November.
First-time buyers face affordability challenges, with many moving to new neighborhoods for better opportunities.