House prices are expected to stall next year as inflation continues to drive mortgage rates up amid the cost of living crisis - but renters will see their costs increase.
The prediction comes from estate and letting agent Hamptons, who said that house price growth will only begin to recover in 2024. According to their forecast, house prices will go unchanged across the UK in the fourth quarter of 2023 compared to the same period in 2022.
But the estate agents have warned that there will be no similar pattern for renters, due to “the increasingly high-cost environment faced by landlords”. They predict rents will rise five per cent annually next year, and again in 2024, before slowing down slightly to four per cent in 2025, the Liverpool Echo reports .
