UK House Prices: Slowing Growth in 2023

By - Narendra Dudhwa

UK house prices: Slowing growth in 2023.

Average house price: £288,000 (June 2023).

Annual growth: 1.7% (June 2023).

Factors driving slowdown: Rising interest rates, economic uncertainty.

Outlook for 2023: Further slowdown, prices could fall by 5%.

Regional variations: North East sees strongest growth, London sees weakest growth.

Best time to buy: Now or early 2023 before prices fall further.

Government measures to help buyers: 95% mortgages, Help to Buy scheme.

Advice for buyers: Get a mortgage pre-approved, be prepared to act quickly.

Advice for sellers: Price your property realistically, be prepared to negotiate.

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