The UK housing market is experiencing a revival, with sales reaching a four-year high, driven by enhanced mortgage rates and greater home availability. Demand is particularly strong in the north of England and Scotland, marking a significant rebound after subdued activity. The market recovered in May after a brief April lull, showcasing improved affordability amid a 13% increase in listings. While prices have risen modestly, regional disparities remain, with northern areas seeing growth and southern cities experiencing declines. Zoopla projects a 2% increase in prices by 2025, highlighting cautious optimism for the market's future.
Sales activity is up 6 per cent compared with this time last year, buoyed by improved mortgage rates, better availability of homes, and renewed buyer confidence.
Mortgage affordability has improved thanks to falling rates and easing lending criteria, while the supply of homes on the market is 13 per cent higher than a year ago.
Richard Donnell, executive director at Zoopla said, 'More homes for sale means more buyers looking to move home, coupled with more attractive mortgage deals... supporting an increase in the number of sales being agreed.'
Zoopla forecasts a 2 per cent increase in UK house prices by the end of 2025, marking continued cautious optimism despite regional disparities.
Collection
[
|
...
]