More sales agreed than this time last year

Zoopla’s latest House Price Index reveals 13% more sales agreed than this time last year and the number of homes for sale are up 20% year-on-year and 25% higher than at any point in the last 8 years. More supply means more would-be buyers, as most sellers are also buyers. Nationwide has also reported that the property market appears to be showing signs of resilience in the face of ongoing affordability pressures. UK house prices increased by 0.4% in May which resulted in a slight pickup in the annual rate of house price growth to 1.3% in April, from 0.6% the previous month. Consumer confidence has improved noticeably over the last few months supported by solid wage gains and lower inflation.

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