Zoopla’s latest index shows that house prices are firming as market activity improves. Annual house price inflation is largely unchanged since last month and stands at -0.2% at the end of March 2024. The housing market continues to register a sustained upturn in new sales while UK house price inflation remains broadly static. The market is more balanced than it has been since before the pandemic. This is positive news and means more people have a chance of moving home in 2024 – so long as sellers remain realistic on pricing – while static prices are not worsening affordability.
More homes for sale and renewed confidence among buyers continues to support sales agreed which are 12% higher year-on- year. The number of sales agreed has been higher than last year for the last 4 months. The housing sales pipeline is now rebuilding after a period of lower sales when mortgage rates spiked higher in 2022 and 2023. Zoopla’s data shows that the market is on track for 1.1m sales in 2024, up 10% on last year.
