The number of houses for sale has reached its highest level in 27 months, new figures show.
Many put their moving plans on hold after mortgage rates spiked to 14 - year highs and house prices started to fall at the end of last year. But new figures from Propertymark, which represents more than 18,000 estate agent members, show the housing market is bouncing back. Estate agents typically reported having 35 homes for sale per branch since January2021. A year ago, there were just 20 properties on sale per branch.
The number of sales being agreed is now widely back in line with the average number agreed in 2019 before the pandemic, estate agents say.
Propertymark says the number of house viewings also increased 21 pc in March compared with February, while the average number of new buyers registering per branch has increased by a third since the beginning of the year.
l.purkiss Daily Mail
The Bank of England has raised interest rates by 0.25% to 4.25% - the highest since 2008.
Inflation has peaked and is set to fall to 2.9% by the end of 2023, said Chancellor Jeremy Hunt in his Spring Budget, as he unveiled plans for help with fuel bills, childcare costs and pensions.
Key Takeaways
30 hours of free childcare a week from September 2025
Energy Price Guarantee extended for three months
Fuel duty frozen for 12 months
Pensions: annual tax-free allowance increased by 50% from 40K to 60K and the lifetime allowance to be abolished
Zoopla
House prices have fallen at the sharpest rate in a decade - with £16,000 wiped off the typical home in just six months, figures show.
Property values dropped 1.1 per cent in the year to February, the biggest dip since November 2012, Nationwide Building Society said.
It is the first time annual property prices have declined since June 2020,during the Covid pandemic, when they fell by 0.1 per cent.
New-build homeowners and renters are expected to save £3,000 on gas and electricity from April, compared with those living in more traditional homes, according to the Home Builders Federation.
Around 85% of new build houses and flats have an Energy Performance Certificate rating of A or B, compared with just 4% of existing dwellings.
More than half of homebuyers are now factoring running costs into their purchasing decision.
The HBF is calling on lenders to introduce green mortgages that take into account the energy efficient properties of new homes.
Zoopla
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