The latest trends in the UK’s housing market:
House prices
The average price for a property in December was £284,691, down -1.4% year-on-year but up 0.1% on the previous month, the first positive monthly growth since August 2023 (ONS).
Economy
UK interest rates have been left unchanged at 5.25% by the Bank of England for the fourth consecutive announcement.
Transactions
The HMRC report that 80,420 sales took place in December, -0.8% down on the previous month and significantly down on last years levels (-17.5%).
Demand
There were 50,459 mortgage approvals in December, the highest level in six months and 25.6% above the same time last year (Bank of England).
Investment
Annual growth in rental prices in the UK stayed at 6.2% in January, the same as in December and the strongest since records began. The Index of Private Rented Housing Prices reports on both new lets and renewals.