Welcome to the hub page for our housing market forecasts, which we released after a tumultuous year, on 8th November 2023. 

We have summarised our expectations for different parts of the market in the table and bullet points that follow.

For more insight into what’s behind our thinking please click on the links below which will take you to our prime central London and outer prime London and prime regional market articles.

Our forecasts in summary

Prime Headlines

• Price growth across prime central London is likely to remain muted in 2024 at 0.0% overall as world GDP growth continues slowing. The strongest growth of 6.0% is in 2026 once the global economy picks up more significantly and domestic political instability subsides after the next election. Over the medium term, growth will continue to be underpinned by a lack of supply and falling inflation and interest rates, resulting in 5 year growth of 18.7%. 
• Higher debt costs have had a more significant impact across outer prime London and prime regional markets. Price falls are expected to continue into 2024 and it’s likely to be a year of two halves, in line with the mainstream markets. 
• Markets more reliant on debt are likely to continue to see more downward pressure on prices as affordability remains stretched and recovery will be slightly slower leading to overall underperformance over the five years. The Midlands, North, Scotland and Wales will be top performers but growth in London and its hinterland will begin to outperform in 2028 as we reach the end of the current housing market cycle.