Value of UK’s housing stock fell by £27bn in 2023, says property firm
Around £27 billion was wiped off the value of the UK’s housing stock last year, amid higher mortgage costs and affordability pressures on households, analysis suggests.
Despite the dip, the total value of housing is still around £1.585 trillion higher than it was in 2019 before the coronavirus pandemic struck, property firm Savills said.
It added that last year’s decline in overall housing values was the first since 2012.
