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The Guardian - UK

Business

Phillip Inman

Signs of UK housing market recovery as price falls ease

United Kingdom Housing Market Office for National Statistics Nationwide

Detatched properties on a housing estate in the UK. — The figures suggest that a slowdown in the UK housing sector triggered by rising mortgage costs may be over. Photograph: georgeclerk/Getty Images

The housing market is expected to stage a recovery in 2024 after average UK house prices fell by only £4,000 last year, according to official figures.

The price of the average home decreased by 1.4% in the 12 months to December 2023, an improvement on an annual fall of 2.3% recorded in November, the Office for National Statistics said.

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