After fluctuating UK house prices ended the year at -2.2%, within our forecast range of -5% and 0%. This was the fourth consecutive quarter of negative annual growth; however quarterly growth was positive at 0.8% - and many months in the latter half of the year have seen house price growth. 

Agents are generally positive for the 2024 outlook; they believe that we have seen the worse of the transaction lull, which in turn will start to have a positive impact on prices. The 2024 forecast is for positive growth, 0% to 5%, with 10% to 15% expected in the five years to 2028.

To read Strutt & Parker's Winter 2023/24 Residential Report, click here or contact Matthew Henderson, Residential Research for more information.