Zoopla gives property market the thumbs up

There are a relatively small number of people struggling to pay their mortgage and falling into arrears despite mortgage rates, and wider cost of living pressures says Zoopla. Demand for property is running at 6% and sales agreed at 8% both higher than last year. Halifax also reports that house prices have stayed relatively flat for the third successive month in June. Annually, house prices have grown year-on-year for the seventh consecutive month, with the average UK property value now standing at £288,455. Stock shortages continue to underpin higher prices.

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