Related topic: House prices

Prices are expected to start recovering from the second half of 2028, with average prices forecast to increase by 15.8% or £56,500 over the five-years to 2031.

The findings challenge the assumption that buyers always pay more for a new-build home.

Lower mortgage rates should help households resume postponed moves from 2027, but borrowing costs are expected to remain above the levels seen for much of the 2010s.

UK annual house price growth softened to 0.5% in October, the slowest pace since January 2024.

Zoopla’s index tracks house prices across 119 postcode areas and prices are falling in 37.

ONS figures show the annual rate of house price inflation falling from 1.2% in July, with England recording particularly subdued growth.

A household on an average combined income of £53,500 can now afford a home listed at up to £301,000.

Near-term sales expectations have edged back into negative territory, while twelve-month expectations for both market activity and house prices are now broadly flat.

Prices were also unchanged annually compared with September last year.

First-time buyer homes now cost less than six times earnings.