UK house price inflation has slowed to 1.3% annually, down from 1.8% a year ago, with the average home now priced at \u00a3271,700, according to Zoopla\u2019s latest house price index. The data reveals a widening regional divide, with northern areas continuing to outperform while southern markets see prices stagnate or decline.<\/p>\n
Northern Ireland leads the UK with 6.7% annual growth, while the North East recorded the strongest performance in Great Britain at 3.2%, followed by the North West at 3.1% and Scotland at 2.6%. Liverpool saw price growth of 4.5%, with Manchester and Newcastle both recording 3% year-on-year increases.<\/p>\n
In contrast, London and the South East both experienced marginal price falls of 0.2%, with the South West barely in positive territory at 0.1%. Bournemouth recorded the steepest decline at 1.7%, followed by Brighton at 1.1% and Cambridge at 0.9%.<\/p>\n
Jeremy Leaf, a north London estate agent, said housing market activity is proving more resilient than expected despite ongoing geopolitical tensions. However, he noted that increased property availability, particularly for flats, is keeping prices under control and leading to more protracted transactions as buyers negotiate harder.<\/p>\n
The market dynamics reflect broader affordability challenges, particularly for first-time buyers. James Nightingall of HomeFinder AI said geopolitical developments and mortgage rates have had a major impact on buyer confidence, with many first-time buyers remaining cautious as lenders have removed some mortgage deals.<\/p>\n<\/p>\n
The rural property market has seen significant price adjustments, according to Nigel Bishop of Recoco Property Search. He noted that sellers have accepted they can no longer achieve pandemic-era asking prices, while higher taxes have prompted many second home owners to sell, creating oversupply in some areas.<\/p>\n
Nathan Emerson, CEO of Propertymark, said agents are reporting a rebound in enquiries post-Easter, suggesting underlying demand remains intact despite being more price-sensitive. He described the market as selective rather than stalled, with well-priced homes continuing to move quickly.<\/p>\n
Tom Bill, head of UK residential research at Knight Frank, warned that the impact of Middle East conflict on the UK housing market has not fully materialised. The disappearance of sub-4% mortgages and looming inflationary pressures from higher energy costs will keep downward pressure on prices for much of the year, he said.<\/p>\n
Iain McKenzie, CEO of The Guild of Property Professionals, said the data indicates the market is behaving rationally rather than reactively, with needs-based buyers continuing to transact while discretionary movers take a more measured approach. He noted that mortgage rates have begun to stabilise in recent weeks, with lenders reintroducing more competitive fixed-rate products.<\/p>\n
The average time to sell has increased by just one day, indicating activity has held firm despite two months of conflict in the Middle East and continued mortgage rate pressures. The direction of interest rates will remain crucial for market performance in the coming months, according to industry professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"
UK house price inflation has slowed to 1.3% annually, down from 1.8% a year ago, with the average home now priced at \u00a3271,700, according to Zoopla\u2019s latest house price index. The data reveals a widening regional divide, with northern areas continuing to outperform while southern markets see prices stagnate or decline. Northern Ireland leads the […]<\/p>\n","protected":false},"author":1,"featured_media":7458,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-10656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\n