Average UK house price tops £250,000 but ‘market starting to slow’
The Guardian says the average price of a UK home has topped £250,000 for the first time, but the proportion of sellers reducing their asking price and the time taken to sell a home have both increased, according to Zoopla’s latest market index.
The property company, which bases its monthly snapshot on a combination of sold prices, mortgage valuations and data for agreed sales, said the average cost of a home hit £250,200 in April, but that the pace of price growth was slowing.
Annual house price inflation was down from 9% in March to 8.4%, and Zoopla said it expected this to fall to 3% by the end of the year.
The housing market is “still much busier than pre-pandemic norms”, but signs are emerging that a slowdown is coming, Zoopla said.
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