Zoopla UK House Price Index – JANUARY 2024 (Watch/Listen)

 

 

PODCAST: https://podcasters.spotify.com/pod/show/fife-properties/episodes/Zoopla-UK-House-Price-Index–JANUARY-2024-e2feh94

 

Executive summary

  • UK house price inflation moderates to -0.8% on rising sales volumes
  • Strong seasonal rebound in sales activity in first weeks of January on back of pent-up demand and sub-5% mortgage rates
  • Demand up 12% year-on-year, led by London and East of England
  • Sales agreed up 13% year on year – sales up across all regions
  • Available homes for sale over 20% higher than a year ago
  • Important not to over-interpret the positive start to the year – there is some upside for sales volumes, but we remain in a buyers’ market
  • A fifth of sellers having to accept more than 10% below the asking price to secure a sale, closer to 1 in 4 across southern England