The latest trends in the UK’s housing market:
House prices
The average price for a property in January was £281,913, down -0.6% year-on-year but up 0.5% on the previous month (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 82,000 sales took place in January, an uptick of 1.9% on the previous month, but down -11.9% on last years levels.
Demand
There were 55,227 mortgage approvals in January, the highest level since October 2022 and 40.2% above the same time last year (Bank of England).
Investment
Annual growth in rental prices in the UK reached 9.0% in February, up from 8.5% in January (ONS, Price Index of Private Rents).