[1/3] Partly finished houses are seen on a new housing development under construction in Liverpool, Britain June 2, 2023.
Yes, prices will fall this year but by single digits," said Tony Williams at consultancy Building Value.
From peak to trough home prices will fall 7.5%, the median in the poll showed.
"Persistent core inflation and wage pressures will prevent the Bank of England from cutting interest rates until 2024, which means mortgage rates won't fall any further until next year," said Andrew Wishart at Capital Economics.
(For other stories from the Reuters quarterly housing market polls:)Reporting by Jonathan Cable; polling by Mumal Rathore and Anitta Sunil; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.
Persons:
Phil Noble, Tony Williams, Andrew Wishart, BoE, Michael McGill, Barratt, Russell Quirk, Jonathan Cable, Mumal Rathore, Anitta Sunil, Kim Coghill
Organizations:
REUTERS, Bank of England, Capital Economics, Nationwide, Thomson
Locations:
Liverpool, Britain, Britain's, London