Latest House Price Index with Zoopla – March 2022
The latest figures released by Zoopla make for some interesting viewing and this article we pick out some key numbers and share them with you.
The 3 months up to and including January saw average UK house prices rise by 0.9% taking the annual rate of growth to 7.8%. This figure sis slightly down from the 8% up to the end of December and is also the lowest quarterly growth since August 2021 suggesting the house price growth is starting to ease.
The highest regional UK growth has been in Wales where a rise of 11% has been seen whilst the lowest is in London at just 3.1% The Southwest has seen a rise of just under 10% which is the biggest rise in England.
Demand for property continues to be a key feature of the property market and the 4 weeks up to 27th February show it is 70% up against the 5-year average whilst available properties is still around 43% down overall. This is sure to apply further upward pressure to prices but with an uncertain economy, increasing cost of living and almost certain interest rate increases we are unlikely to see increases continuing at the current rate.
An encouraging figure is the flow of new properties coming to the market which has the early numbers from 2022 at 5% higher than historical 5-year average for the same period.
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