Zoopla UK House Price Index – JANUARY 2024 (Watch/Listen)
Jim Parker
January 29, 2024
Executive summary
- UK house price inflation moderates to -0.8% on rising sales volumes
- Strong seasonal rebound in sales activity in first weeks of January on back of pent-up demand and sub-5% mortgage rates
- Demand up 12% year-on-year, led by London and East of England
- Sales agreed up 13% year on year – sales up across all regions
- Available homes for sale over 20% higher than a year ago
- Important not to over-interpret the positive start to the year – there is some upside for sales volumes, but we remain in a buyers’ market
- A fifth of sellers having to accept more than 10% below the asking price to secure a sale, closer to 1 in 4 across southern England
