While London and the South East struggle, northern regions and Northern Ireland continue to see strong growth. 4% increase. 3%, also according to Zoopla.
In contrast, every city in southern England had lower prices than a year ago at the end of March, according to Zoopla. 7%. 5% fall in average asking prices in the year to January, per ONS.
6%, according to Halifax. Property type trends show a clear divergence. 8% year-on-year, from £224,000 to £216,000, according to the ONS.
6%. In London, terraced houses fell 1% year-on-year. The average price paid by first-time buyers fell to £238,908, its lowest level so far this year, according to Halifax.
Market dynamics reflect a slowing London market. 1% month-on-month, according to Halifax. Zoopla reports the average time to sell a home across the UK is 33 days, but London properties take six days longer to sell than a year ago.
7%) in the year to February, per ONS. Interest rate outlook and mortgage market uncertainty loom. The Bank of England has all but confirmed interest rates will be hiked in coming months due to the oil price surge.
75%. Mortgage rates initially climbed after the start of the Middle East conflict, but several major lenders have recently reduced fixed rates as swap rates fell. More than 50 leading organisations in the housebuilding sector are calling on the government to address housing affordability, according to multiple reports.