The property market has kicked off with its most robust beginning in three years, according to a property website. Zoopla has revealed that the volume of new sales agreed surged by 12% when comparing the four weeks up to January 24, 2025, with the corresponding period from the previous year. Additionally, the inventory of homes on the market is 10% higher than it was a year ago, based on their data.

The website indicated that some buyers are rushing to complete purchases before the stamp duty increase on April 1, which will lower the "nil rate" band for first-time buyers from £425,000 to £300,000, applicable in England and Northern Ireland. The average UK house price now stands at £267,700, marking an increase of £5,200 over the last year, following a decrease of £2,400 during 2023. The rise in sales volumes is bolstering UK house price inflation.

According to Zoopla, house prices across the UK were 2% higher on average in December 2024 compared to a year prior, with variations ranging from a 7.7% increase in Northern Ireland to a 1% rise in eastern England. However, the report suggests that the recent surge in prices may be stabilising as mortgage rates edge upwards and buyers face a broader selection of properties. Zoopla predicts that house price inflation will remain moderate throughout 2025, but anticipates that the existing North/South divide in home price inflation will persist over the coming year. Richard Donnell, executive director at Zoopla, commented: "The first few weeks of each year tend to provide a clear indication of how the rest of the year is likely to unfold.".

"2025 has started well, better than 2024 and 2023 which bodes well for market activity over the rest of the year, supported by evidence of more people looking to move. "It is important not to read too much into the increase in stamp duty for more buyers from April as three in five first-time buyers will still pay nothing from April. The extra costs to homeowners remain manageable and unlikely to reduce sales but they will keep price rises in check.".

"The healthy stock of homes for sale will keep price rises in check and we are forecasting average UK house prices will rise by 2.5% in 2025 with 5% more sales than last year at 1.15 million. Rising incomes and base rate cuts will improve affordability and support consumer sentiment.". Malcolm Prescott, managing director of Webbers Estate Agents, commented: "January has started very positively here in the South West, with an abundance of new listings and sales to match.".

Here are average house price change over 2024 across UK nations and regions, according to Zoopla. Its figures show average house prices in December 2024 followed by increases across 2024 in cash and percentage terms:. Northern Ireland, £179,200, £12,800, 7.7%. North West England, £199,700, £6,200, 3.2%. North East England, £146,100, £4,100, 2.9%. Scotland, £166,900, £4,600, 2.8%. Wales, £206,800, £5,400, 2.7%.