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

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…

© La Conversation - mercredi 28 juin 2023