Residential property prices will fall 3.6% in the first quarter of the year, based on deals agreed between buyers and sellers in Q4 2023, Reallymoving’s House Price Forecast Q1 2024 shows.

The research is based on analysis of approximately 115,000 conveyancing quote forms, which are completed by buyers once a deal is agreed, giving insight into what they have agreed to pay before the transaction completes. The graph below shows how Reallymoving’s data anticipates Land Registry housing market trends

Conveyancing quote data indicates what buyers have agreed to pay three months before Land Registry data is published: 

Period Average Price Agreed Quarterly Change Annual Change
2023 Q1 £323,443 -4.6% +7.9%
2023 Q2 £326,468 +0.9% -2.2%
2023 Q3 £336,999 +3.2% -1.6%
2023 Q4 £323,594 -4.0% -4.5%
2024 Q1 £311,936 -3.6% -3.6%