How is this news?

This is the best summary I could come up with:

"The resilience seen in house prices during 2023 continues to be underpinned by a shortage of properties available, rather than any significant strengthening of buyer demand,” explained Halifax director Kim Kinnaird.

That said, dropping mortgage prices linked to stabilising economic conditions are having a marginal impact on activity in the sector, encouraging more people to buy homes.

Whilst the UK’s growth forecast remains particularly pessimistic, it seems that easing conditions are filling lenders and buyers with slightly more confidence.

During the covid-19 pandemic, house prices in the UK soared as people began to look for larger properties and were incentivised to buy their homes because of tax breaks and low interest rates.

Experts are nonetheless advising that this relief won’t come soon, particularly given the Bank of England’s hesitancy to reduce interest rates, which influence repayments for those on variable schemes.

Victoria Scholar, Head of Investment at Interactive Investor, predicted that house prices are set to drop again next year, but added that the pace of decline will depend on "growing expectations that the central bank will actually loosen monetary policy in 2024, making borrowing rates more attractive, potentially stimulating demand”.

The original article contains 465 words, the summary contains 191 words. Saved 59%. I’m a bot and I’m open source!