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Residential Research

UK Residential Market Trends Q4 2023

CBRE’s Q4 2023 UK Residential Market Trends explores the latest developments in the sales and rental market.

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Executive Summary

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Activity in the sales market remains subdued. At the headline level, house prices were broadly stable, but performance differs across the country with several regions recording house price falls. In contrast, private rental prices have continued to rise amidst low supply and elevated tenant demand.

House Price Impact is Mixed

The main house price indices are reporting contrasting results at present. According to the ONS, the average UK house price was broadly unchanged in the 12 months to August 2023 at £291,000.

Screenshot 2023-11-23 133703

Strong Rent Growth Persists

Private rents in the UK continued to accelerate, increasing by 5.7% in the 12 months to September 2023, up from 5.6% in August, according to the ONS. Private rents increased by 5.6% in England, 6.9% in Wales, and 6.0% in Scotland in the 12 months to September 2023.

Screenshot 2023-11-23 134430

To read more on the above download our full report.

Contacts

Jen Siebrits

Head of UK Research

Phone +44 2071822066

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Scott Cabot

Head of Residential Research

Phone +44 2071822362

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Michael McGill

Associate Director

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Julien Mills

Head of New Homes

Phone +44 2071822679

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Sharief Ibrahim

Head of Residential Agency

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