UK Housing Market Set to Witness Lowest Annual Sales Figures Since 2012

In a reflection of shifting economic currents, the United Kingdom's housing market is poised to witness a dramatic 20% reduction in property transactions this year, reaching its nadir in over a decade. This phenomenon, attributed to the interplay of escalating mortgage costs and a tightening cost of living landscape, serves as a telling indicator of the market's current paralysis
Picture of Alice Weil

Alice Weil

Features Editor at The Executive Magazine

In a forecast that reverberates across the property landscape, Zoopla has projected a notable decline, with the number of transactions anticipated to stand at 1 million – a staggering 21% drop from the previous year. This anticipated descent is slated to mark the most modest figures since the year 2012.

At the heart of this anticipated downturn...

 

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