UK house prices finish year down 1.8%, defying outlook for crash

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Economy

Supply shortages and robust demand helped the market hold up better than most forecasters had predicted

UK house prices finished 2023 little changed from a year ago, defying predictions for a sharp downturn, figures from one of the biggest mortgage lenders indicated.

Nationwide Building Society said its measure of property prices fell 1.8 per cent from a year ago in December to £257,443 (€296,427.59), slightly higher than the 1.3 per cent drop economists forecast last week but much less than the 10 per cent drop most had expected a year ago.



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