House price falls slow to -0.3% and market activity improves with more sales, lower discounts and greater choice. Here’s the latest on the UK housing market from the Zoopla House Price Index for March 2023.
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The average UK rent is now £1,223 after a +7.8% rise in the last year. Rents for new lets will rise more slowly this year, but only a major supply boost will help with rental affordability.
9 in 10 homeowners who sold up in 2023 made 25% in profit, with the average seller of a £275,000 property earning £74,000. How much money did your home make?
It was a disappointing Budget for anyone hoping for measures to help home buyers and mortgage borrowers but tax changes announced could have a small impact.
National insurance cut from 10% to 8%, Child Benefit threshold raised to £60,000, fuel duty frozen and inflation on track to hit 2% target in the next quarter.
New reforms requiring planning permission for short term holiday lets could come into force as early as this summer under new government proposals.
The housing market continues to recover with house price falls steadying and 15% more property sales than this time last year. Get the latest on house prices and market trends with our House Price Index for February 2024.
Buyers have a lot more choice when it comes to securing a home in 2024. More sellers are coming to market as mortgage rates are expected to plateau at 4% to 5%.
