A UK estate and letting agent has issued a warning for renters in the UK, suggesting house prices are likely to stall in 2023, due to inflation and the rise in mortgage rates - but the price of renting a home will continue to increase.
Because of the pressure on household incomes, estate agent Hamptons predicts house prices to remain the same in the fourth quarter of 2023 compared with the same period in 2022, with a 0% change across Britain.
According to the forecast, house sales are expected to be hit next year with a dip stemming from mortgage buyers - and first-time buyers in particular, Liverpool Echo reports.
