An increase in potential buyer demand has been reported by Zoopla while Nationwide reported a 0.5% monthly rise in house prices. This is positive news for the property market.
According to Nationwide the average house price this month sits at £215,897 – 1.9% higher than this time in 2019.
Meanwhile Zoopla revealed that buyer demand between 23 December and 19 January was 26% higher compared with the same period the year before.
With the exception of Belfast, every UK city recorded an increase in demand from buyers over this period.
Zoopla’s report follows other positive updates on the housing market, with Keats Estate Agents in Halsemere being among those reporting a surge in buyer enquiries since the general election.
Zoopla’s research and insight director Richard Donnell said that while an uplift in interest is to be expected in the first few weeks of the year, demand at the start of 2020 has been particularly strong.
He said: “This is partly due to fading political uncertainty. Households who were holding off moving are now starting to return to the market and this momentum has been supported by low mortgage rates.”
Overall, Zoopla expects city house prices to grow by an average of 3% in 2020.