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The market soared in February as more sellers accepted lower offers on their properties.
According to Zoopla research, buyer demand has increased by 11% year-on-year and sales have increased by 15%.
However, house prices fell by 0.5% year-on-year, with prices rising in seven regions and falling in five regions.
Sarah Coles, head of personal finance at Hargreaves Lansdown, said: “February maintained the new breath of life breathed into the market at the start of the year, with some buyers and sellers returning to the market and sales picking up again. He has recovered.”
“However, while this is long-awaited good news for sellers, it is worth highlighting that the market faces some serious hurdles, with prices falling and asking prices reduced.
“The decline in mortgage rates from late 2023 to early 2024 has been an important shift in increasing market optimism, with rates starting to rise again. Still around the same level as a year ago. Although the two-year average rate is still below 5.75%, the rise may give some buyers pause.
Furthermore, she added: “The situation varies greatly from country to country. Unfortunately for many people, the situation remains difficult in the south.
“The South, outside of London, is seeing the effects of the relentless and spectacular price rises of the past few years. As a result, affordability remains a major issue, with asking prices still falling significantly. Masu.
“London is an exception. Prices haven’t risen as much as other parts of the south, so incomes have caught up a bit. It’s one of the areas with the best sales right now.
“Prices in other parts of the country have increased over the past few years, but they haven’t risen as quickly or as high, so the decline has been more limited.”