House prices in Scotland and Northern Ireland continue to rise: Propertymark

the UK, according to Propertymark’s December Housing Insight Report that reports on the latest ONS data.

In comparison, Wales and England are seeing a fall in house prices with the average UK house price dropping in the period between November 2022 to November 2023. England has seen the biggest average fall in the same period.

Overall, across the UK, the month of December 2023 witnessed a decline in the average number of new perspective buyers registered per Propertymark member branch from 49 in November to 34 in December. This decrease was due to established seasonal trends.

These trends were also reflected in the average number of market appraisals conducted per member branch, which reduced from 16 in November 2023 to 10 in December.

The number of sales agreed per member branch also fell to 4 in December 2023 from 6 in November 2023.

Supply remained an issue before Christmas as there were on average just 5 homes placed for sale per member branch in December, compared with 6 in November and 9 in October.

Timothy Douglas, Head of Policy and Campaigns at Propertymark, said:

“Overall, what we are witnessing in the housing market across the UK is house prices adjusting to the rate of inflation and higher interest rates. However, Scotland and Northern Ireland are showing house price growth that is likely down to a limited number of properties for sale alongside strong demand among buyers in certain locations. In the New Year, we expect regional trends to continue to change and with hopes for inflation and interest rates to fall, this should bring more properties to market as more consumers look to move in the spring and summer months.”

Further Information

You can view the Propertymark Housing Insight Report covering December 2023

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