The housing market in the UK is seeing a resurgence, with both buyers and sellers returning in greater numbers according to Zoopla. London is leading the way in terms of buyer demand, followed closely by the North East and North West regions. The flow of new homes for sale has increased by 10% compared to a year ago, reaching the highest level since 2020.

Buyer demand is currently 11% higher than last year, with activity in January and February being particularly strong due to falling mortgage rates and pent-up demand from the previous year. London, despite lagging behind the rest of the UK in recent years, is showing signs of improvement in terms of housing affordability.

The overall health of the housing market can be assessed by looking at trends in the number of sales being agreed upon. With almost a fifth more homes for sale compared to last year, there is more choice for buyers and an increased likelihood of sales being agreed upon.

The increase in demand and sales is also attracting more sellers to the market, with the number of new homes being listed for sale rising by 10% compared to a year ago. This trend is particularly noticeable in the East of England, the South West, and North East regions

 

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