Ashtons Summer Housing Market Review 2023
The first half of 2023 for the property market both nationally and locally has not been without significant challenges fundamentally caused by the changing interest rate environment, persistent high inflation and the legacy of the disastrous Truss/Kwarteng budget of last Autumn.
From a national perspective house prices have settled in many areas and started to come down. The latest 0.5% rise in the base rate will undoubtedly compound this. In May, the Halifax Price Index reported the first year on year house price fall in 14 years. The Halifax Report goes on to detail prices in May were broadly in line with prices in April of this year.
Whilst it is hard to get a clear picture from a national perspective, at Ashtons we have a deeper understanding of the market in Hertfordshire and the surrounding areas.
28 June 2023
Hertfordshire
Property Market Update