The supply of homes for sale has hit a five year high with 20% more homes on the market compared to this time last year.
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House prices fall -0.2% over the last year while market activity improves with more sales and mortgage approvals. Here’s the latest on the UK housing market from the Zoopla House Price Index for April 2024.
The new national average house price is £264,500 in April 2024. Check out a host of hot properties available for around that price right now.
Buyer confidence is improving and 12% more homes are going under offer compared to this time last year. Mortgage approvals for home purchases are also up 32%.
Home buyers are currently facing an annual increase of £4,300 on their mortgage repayments, rising to £7,500 in London.
The average rent in the UK is now £1,223 per month after 7.2% growth in the last year. The highest average rent in the UK is in London (£2,121) while the North East has the lowest monthly rent (£695).
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Seller discounts narrow in spring 2024 as more sales are agreed. Momentum is growing in the housing market and house prices don't need to fall further to support the continued recovery in sales.
