
House prices could be set to fall by as much as 5 percent over the next two years as inflation and rising interest rates begin to take their toll. Capital Economics, a leading independent economic research firm, is now forecasting that house prices will l drop by 4 percent overall by the end of 2024. In contrast to recent reports by Knight Frank and Halifax, which suggest that prices could rise by a more moderate 0-2 percent in 2023, Capital Economics now expects house prices to fall by 3 percent in 2023 and a further 1.8 percent in 2024.
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