Annual rise of £425bn smaller than in previous two years, says Savills as it predicts fall in house prices in 2023
The total value of all homes across the UK has reached a record high of £8.7tn but rising mortgage costs are likely to lead to a dip in 2023.
The country’s 30m homes were valued by the estate agent Savills at a combined £8.68tn at the end of 2022, a rise of just over 5% or £425bn on a year earlier.
