Zoopla UK House Price Index – FEBRUARY 2024 (Watch/Listen)
Jim Parker
February 29, 2024
Executive summary
- UK house price inflation slows to -0.5% on rising sales volumes
- All measures of activity higher with sales agreed up 15%
- A fifth more homes for sale than last year as sellers return
- Seven regions with positive annual price inflation, price falls in five
- There is a 3-tier housing market split between southern England, London and the rest of the UK defined by affordability
- Activity boosted by falling mortgage rates which are plateauing
- We expect more sales in 2024 rather than faster price growth
- Sales momentum has been recovering for 5 months and we are on track for 10% more sales (1.1m) in 2024 than last year
