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UK Housing Market Springs Back to Life

  • Writer: Sarah Ruivivar
    Sarah Ruivivar
  • Jun 5
  • 2 min read

The UK housing market is buzzing with activity, thanks to a post-spring surge in sales.


According to Zoopla’s latest House Price Index, the number of sales agreed in May is sprinting at its fastest pace since the 2021 pandemic boom. With 13% more homes up for grabs than last year, buyers are back in action, buoyed by improved mortgage affordability.


Zoopla reveals that UK house prices have nudged up by 1.6% over the past year, reaching an average of £268,250. But don’t get too carried away—sellers need to keep their pricing grounded, especially with the increased competition. On average, homes are selling for about 3% below the asking price.


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The market’s resurgence is partly due to falling mortgage rates, which have encouraged more buyers to dive in. Lenders are now letting buyers borrow up to 20% more, boosting confidence and sales. While the South is seeing a slower price growth due to higher availability, the North West and Scotland are shining with house prices up by 3% and 2.9%, respectively.


Cities like Blackburn, Wigan, and Birkenhead are leading the charge with impressive price hikes, while Aberdeen lags behind due to economic challenges. Richard Donnell from Zoopla predicts continued growth, with UK home values set to rise by 2% by year-end.


So, whether you’re in the bustling North or the sunny South, it’s time to strategise your property moves and keep an eye on this lively market!


Want to hear more? Join Mal & Matt on the Property AI Report Podcast each week!

Access from your preferred podcast provider by clicking here


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