Cash buyers account for a third of UK home sales in 2023, driven by older, wealthier buyers and the purchase of cheaper properties. Mortgage rates have started easing due to decreasing inflation, indicating potential signs of a housing market pick-up. Property professionals expect a seasonal bounce in the housing market next spring, provided there is no general election in the first half of 2024. The housing market has been turbulent due to high inflation and higher interest rates, but optimism is growing as inflation continues to dip, potentially leading to lower interest rates and a revival of the UK housing market.

UK Housing Market Rebound Potential