UK Property Sales to Jump by 10% | Zoopla Report



Get ahead of the curve with insights from Zoopla's report on the projected rise in UK property sales. 

Buyers and sellers are showing increased activity in the property market, with a projected 10% boost in home sales expected for this year, according to the latest data from property website Zoopla. In February, all measures of activity were higher compared to the same period last year, with agreed sales up by 15% and buyer demand up by 11%. The market is on track to reach 1.1 million transactions this year, up from 1 million in 2023.


UK Property Sales to Jump by 10% | Zoopla Report

Although UK prices were down by 0.5% year-on-year, there were regional variations. Prices increased in Scotland, Northern Ireland, Wales, the Midlands, and the north of England, while they fell across the south of England. Belfast saw a 4.3% rise in prices, while the east of England experienced a 2.1% drop. The areas with falling prices are those with the highest prices, where buyers are facing affordability issues due to rising mortgage rates and increased living costs.

Last summer, fixed-rate mortgage rates reached their highest level since 2008 as the money markets reacted to the rising base rate. Following the Bank of England's decision to pause rate increases after reaching 5.25% in August, mortgage deal prices have been falling. Zoopla noted that this, along with faster growth in household incomes, has supported the increase in market activity. However, lenders are now pulling the cheapest sub-4% mortgages.

The property market is showing signs of recovery with increased buyer and seller activity. Regional variations in prices reflect affordability challenges in areas with higher prices. The recent fall in mortgage deal prices has supported market activity, but the withdrawal of the cheapest mortgages by lenders may impact future transactions.

UK Property Sales to Jump by 10% | Zoopla Report

Support Ogusyis by making a contribution – no matter how small.


Enter your amount
£
Enter your amount
£
Enter your amount
£
Yourname
Email
Phone


Dutch Home Prices to Rise 14% by End 2026; De Nederlandsche Bank Predicts No Recession

De Nederlandsche Bank forecasts a 6% increase in Dutch home prices this year, with a steady 4% rise in the next two years. No more fear of recession for the Dutch economy.

De Nederlandsche Bank forecasts a 6% increase in Dutch home prices this year, with a steady 4% rise in the next two years. No more fear of recession for the Dutch economy.

Read more

Discover Why Costa Blanca Still a Top Choice for Foreign House Buyers in Spain

Discover why ALICANTE province, particularly the Costa Blanca, remains a top destination for foreign investors looking to invest in real estate in Spain, with 44% of property transactions in 2023 carried out by non-Spaniards.

Discover why ALICANTE province, particularly the Costa Blanca, remains a top destination for foreign investors looking to invest in real estate in Spain, with 44% of property transactions in 2023 carried out by non-Spaniards.

Read more

America's Rental Market: Regions with Climbing and Falling Rents

Discover the latest data on rental market trends in America, including regions where rents are on the rise and where they are falling.

Discover the latest data on rental market trends in America, including regions where rents are on the rise and where they are falling.

Read more

Purpose-Built Rentals: The Future of Commercial Real Estate?

Discover the future of commercial real estate with purpose-built rentals as highlighted in the latest Re/Max report. Explore how landlords are shifting towards this trend for increased density and profitability.

Discover the future of commercial real estate with purpose-built rentals as highlighted in the latest Re/Max report. Explore how landlords are shifting towards this trend for increased density and profitability.

Read more

US Homeowners Experience Near-Record Highs in Home Equity Growth

Discover the latest CoreLogic report findings showing US homeowners gaining an average of $28,000 in home equity over the past year.

Discover the latest CoreLogic report findings showing US homeowners gaining an average of $28,000 in home equity over the past year.

Read more

Rare Low-Rise City Centre Homes Portfolio Hits UK Residential Real Estate Market

Explore the latest update on the UK residential real estate market with the launch of a unique portfolio of 262 single-family houses in city centres, designed for institutional ownership in the UK rental real estate market.

Explore the latest update on the UK residential real estate market with the launch of a unique portfolio of 262 single-family houses in city centres, designed for institutional ownership in the UK rental real estate market.

Read more

Rise in Landlords Investing in Semi-Commercial Real Estate

Discover why investors are flocking to semi-commercial real estate, with applications doubling in 2024. Learn more in our latest blog post.

Discover why investors are flocking to semi-commercial real estate, with applications doubling in 2024. Learn more in our latest blog post.

Read more

Nearly Half of Landlords Planning to Buy More Properties | Landbay Survey

Landbay's latest survey shows strong landlord demand, with nearly half looking to purchase more properties in the next year.

Landbay\'s latest survey shows strong landlord demand, with nearly half looking to purchase more properties in the next year.

Read more

Canada: Montreal Home Sales Increase as Prices Surge

The Montreal real estate market sees a rise in home sales, with prices on the upswing. Find out more about the latest trends in the region.

The Montreal real estate market sees a rise in home sales, with prices on the upswing. Find out more about the latest trends in the region.

Read more

Copyright © Ogusyis. All rights reserved. The Content may not be copied, distributed,  republished, uploaded, posted or transmitted in any way without the prior written consent of Ogusyis.