Real Estate
UK Housing Market Signaling Revival as Deals Jump, Zoopla Says
- More supply than at any point in the last six years: Zoopla
- High finance costs still discouraging many buyers in the south
This article is for subscribers only.
The UK housing market is showing signs of a rebound from last year’s slump, and a possible interest-rate reduction by the Bank of England could boost the confidence of prospective buyers, according to a report by property portal Zoopla.
Agreed sales in the four weeks to July 21 rose 16% from a year earlier, while the average agent had 33 homes available for sale, the most in six years, the data showed. That suggests sellers are optimistic of getting a good deal. While property prices increased just 0.1% in the past 12 months, Zoopla expects a slow but steady recovery, with an average increase of 2% by the end of the year.