British house prices defy forecasts of a crash as 'for sale' supply dries up

Mortgage lender Halifax said a lack of houses for sale helped deliver the biggest monthly price gain since February

While analysts predicted a 10% drop in prices from the peak in summer 2022, the slide so far is only half of that level and well short of the most apocalyptic forecasts.

Britain’s housing market is shaking off forecasts for a crash, with a slump in the number of properties changing hands preventing a sizeable drop in prices.

A standoff between buyers and sellers has dried up housing transactions, but also limited any plunge in valuations, with few households forced into selling up.