Latest stats show rise in housing market activity

April 8, 2024 by Brendan O'Neill

House Prices

The latest statistics for the housing market in the UK show that there has been a big rise in sales during the past few months, as average prices become more stable.

These figures come from the digital property platform Zoopla. Its data for March shows that the steady drops in average house prices that we have seen in recent months are slowing down. Year-on-year property price inflation for March was still in negative territory, at -0.3%. When compared to the -1.4% figure for October of last year though, it is easy to see that prices are starting to become more settled again.

Evidence from the Zoopla report suggests that the recovery of house prices is sparking sales into life again too. March saw overall sales totals that were 9% higher than the figure for the same month last year. When looked at on a quarterly basis, the opening quarter of 2024 has brought 7% more sales than the same period for last year.

People looking to sell their homes are responding to the rise in sales interest by getting their properties onto the market. According to Zoopla, the number of properties currently available has risen 20%. On average, estate agents across the country now have 11% more available properties in comparison to the previous 12 months.

All of this is really encouraging for those who work within the mortgage sector too. It will mean that the numbers using a CeMAP training company to qualify as mortgage advisors remain high.