UK house prices on track to rise 3% in 2024, says leading agent

Cheaper mortgages and anticipation of interest rate cuts are predicted to lead to jump in transactions

UK house prices are on track to beat forecasts of a decline in 2024, a leading estate agent has said, as a mortgage pricing war and expectations of Bank of England interest rate cuts rekindle the property market.

After a year of sustained price falls in 2023, the global property consultancy Knight Frank said it was updating its forecast for UK house prices to rise by 3% in 2024, up from an earlier estimate of a 4% drop.