Value of UK housing stock dropped by £27bn in 2023 as high costs hurt market

The UK’s housing stock has seen its first annual decline in value since 2012 after some £27bn was wiped off last year, according to new analysis, amid higher mortgage costs and pressure on household finances. Figures from property firm Savills showed that despite the fall, the value of housing remained £1.585tn higher than 2019, before [...]