UK Sales Market at Highest Level Since 2020: Zoopla House Price Index

With Zoopla’s latest House Price Index now released, data suggests that property sales activity is running at the highest level since the 2020 boom – with the pipeline of shales agreed heading through to completion is the largest in the past 4 years, and 30% higher annually. The value total of these homes is estimated at £130bn, injecting an incredible boost into the market.

Data released from Zoopla’s latest House Price Index suggests that the activity of property sales is running at the highest level since the 2020 boom during the pandemic, with a 30% annual increase of sales annually.

With buyer demand up 22% annually, and new stock up 13%, Zoopla believe that lower mortgage rates and rising incomes are the key factors for this growth. UK house prices also remain on track to be 2% higher across 2024. There’s also been a spike in first-time buyers, representing 36% of sales – showing the confidence that’s returning to the market and encouraging those who were previously hesitant to take their first step onto the property ladder.

Commenting on the report, Nathan Emerson, chief executive of Propertymark, said:

“We have seen an encouraging transformation across the year in terms of a resilient trend of house price growth. Affordability and overall confidence in the sector have also seen a boost throughout the year so far.”

If you’re looking to purchase a property as an investment or as a homeowner, this is the time to act. Reach out to our expert property consultants today to find out more about the opportunities available.