Housing Market 2024 Interest Rates Uk. Investors are now betting that britain’s central bank will cut interest rates only once in 2024 as inflation has proved stickier than expected, falling by less than. High mortgage rates and persistent inflation meant transactions fell by a fifth last year and average prices dropped by 5% in the year to september.

House prices have been largely flat over the past 12 months (annual property price rises range from 1.1% to 1.6%) according to the latest data from halifax. Uk house prices are expected to fall in 2024, according to analysts and lenders, while the cost of renting a home will continue to rise.