Housing market has strongest start in three years — see how your area fared
Housing market has strongest start in three years — see how your area fared
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Buyers rush to complete sales ahead of 1 April stamp duty changes. The UK housing market has seen its strongest start in three years, with new sales agreements up 12 per cent in the four weeks to 24 January, compared with the same period last year, according to property website Zoopla.
![[Rising volumes of sales are supporting UK house inflation]](https://static.independent.co.uk/2025/01/29/16/56/01JJRYC21H2M5WX9YAEC3P5XXT.jpeg)
This surge in activity comes as the number of homes for sale also increased 10 per cent year-on-year. Zoopla has said this could be driven by buyers aiming to complete purchases before the April 1 stamp duty changes. These changes will see the "nil rate" band for first-time buyers reduced from £425,000 to £300,000 in England and Northern Ireland.
The average UK house price now stands at £267,700, having risen by £5,200 over the past year, rebounding from a £2,400 dip in 2023. This early-year boost suggests a potential resurgence in market activity, although the impact of the upcoming stamp duty changes remains to be seen.
Rising volumes of sales are supporting UK house price inflation. Zoopla said house prices across the UK were 2 per cent higher on average in December 2024 than a year earlier, ranging from 7.7 per cent in Northern Ireland to 1 per cent in eastern England.
But there are signs that the recent upturn in prices is starting to level out as mortgage rates drift higher and buyers have a wider choice of properties, the report said. Zoopla said house price inflation will be kept in check over 2025 but the current North/South divide in home price inflation is expected to continue over the year ahead.
