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UK House Price Index – November 2023

Research and Insight November 2023
Top insights
Executive summary
UK house price inflation slows to -1.2%, down from 8.2% a year ago
Price falls extend across country, but declines remain modest
No acceleration of price falls in markets with highest values
Greater realism on pricing supporting new sales volumes which are 15% higher than a year ago and 5% up on 2019 levels
Homes for sale touches a 6-year high boosting choice and re- enforcing the buyer's market and downward pressure on prices
Sellers accepting 5.5% off the asking price to agree sales, an average discount of £18,000 - the largest gap for over 5 years
Discounts to asking prices for agreed sales are 6.1% in London and the South East (£25,000) and 4.8% (or £11,000) for rest of UK
- 1.2 %

Current UK house price growth (YoY)

34 %

Homes for sale versus a year ago

- 2.5%

Discount from asking to achieved price

"There is evidence of greater realism amongst sellers on pricing with a growing acceptance that what a home might have been worth a year ago is now largely academic given current market conditions."

Richard Donnell Executive Director - Research
Demand and sales up on last year, but so is overall supply
Source: Zoopla Research
% change - 4 weeks to 20 November 2023 compared to the same period in 2022. Resale market only.