A pullback in buyer demand paired with rising supply has cooled the market, causing house price inflation to ease in the first half of the year. With the spring selling season now over, though, and buyers poised to re-enter the market following the recent sharp declines in mortgage rates, the balance of power should shift back toward sellers. A 5% rise in house prices this year is still on the cards. It will take until 2025 and 2026 for the market to become better balanced, where we have pencilled in more moderate price rises of 3% and 2.5%, respectively.
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