Five parts of the economy that are hit when house prices fall

By Anandadeep Mandal, Associate professor in finance, University of Birmingham

UK house price growth is slowing. While prices rose 1.2% compared to last year, this is down on May’s 1.9% growth, according to property website Zoopla. Its house price index – which forecasts a 5% fall in house prices this year – also shows that 42% of sellers are now accepting offers of more than 5% below asking price, the highest level since 2018.

This may be seen as a positive for first-time buyers who have been subject to steadily rising prices in recent years. But the Bank of England’s…

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