Zoopla UK House Price Index – February 2023
Executive summary
• The housing market continues to experience a soft repricing
• Annual inflation slows to 4.1%, prices 1% lower than in October 2022
• Market conditions at the end of Q1 are better than many had expected - buyers and sellers are striking deals at an increasing rate
• We expect 500,000 sales completions in H1 2023 meaning we are on track for 1m sales, potentially even higher in 2023
• Sales activity is being supported by 65% more homes for sale compared to March 2022 and falling mortgage rates
• We find a shift in sales towards markets with better value for money and expect the inner London flats market to see more activity in 2023
• High rental inflation will continue to support first-time buyer demand
(Watch/Listen) https://www.fifeproperties.co.uk/blog/zoopla-uk-house-price-index-february-2023/
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