DAVY VIEW

This quarter’s MyHome report shows asking prices falling by 1.3% in Q3 2022, with annual inflation slowing to 7.8%. The summer has seen a surge in new listings for sale, up 17% on 2019 levels, so the stock of homes listed for sale is now 16,300 – halfway back to pre-pandemic levels. A sense that the market has peaked may have contributed to this pick-up in supply. However, demand remains resilient. We still expect house prices to rise by 6% in 2022 and 3% in 2023.