The article discusses a notable increase in the UK housing market, marking the strongest start in three years. New sales agreements surged by 12% over the four weeks ending January 24, compared to the previous year, reflecting increased buyer activity. The rise is attributed to a 10% annual increase in homes for sale and intentions to finalize purchases before imminent stamp duty reductions. The current average UK house price stands at £267,700, showing signs of recovery after a dip in 2023. The effects of the upcoming stamp duty changes will be closely monitored.
The UK housing market has seen its strongest start in three years, with new sales agreements up 12 percent in the four weeks to 24 January.
Zoopla has said this surge in activity comes as the number of homes for sale also increased 10 percent year-on-year, potentially driven by stamp duty changes.
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