- The UK housing market is experiencing a significant uplift, with February set to record the highest number of new homes listed for sale in a decade.
- Property website Zoopla reported a 6 per cent increase in available properties in the four weeks leading up to 15 February compared to the same period last year.
- This surge in listings, combined with declining mortgage rates, creates a favourable environment, particularly for first-time buyers, with 40 per cent of homes now cheaper to buy than rent for those with a 20 per cent deposit.
- House prices across the UK increased by 1.3 per cent in the 12 months to January, though regional variations saw an 8.0 per cent rise in Northern Ireland and a 0.2 per cent fall in London.
- Experts suggest that improved affordability and increased supply indicate a more stable market, encouraging sellers to price realistically and offering buyers, especially first-timers, better negotiation power.
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