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According to the latest forecast by the Office for National Statistics (ONS), the UK housing market could see a moderate cooling in prices. House prices in 2023 rose at a significantly slower rate compared to previous years, with annual growth sitting at just 1.4% — a stark contrast to the pandemic-era surge of above 10% annual growth. While continuing price stabilization could create opportunities for first-time buyers, investors should be prepared for slower capital growth compared to the boom periods of 2020 and 2021.