Executive summary
- The housing market continues to adjust to 4%+ mortgage rates with increased market activity rather than faster price growth
- House prices are broadly flat over the last 12 months, but prices are higher across all regions and countries of the UK over H1 2024
- UK house prices are on track to be up to 2% higher over 2024
- The supply of homes for sale continues to grow and is 16% higher than a year ago – the average estate agent has 33 homes for sale
- More supply and choice are supporting sales growth but will also keep price inflation in check
- Buyers are paying a greater proportion of the asking price (96.8%), which has rebounded the most in London and the Southeast
