Residential Property Review | February 2024

26/02/2024

According to RICS, the data on new buyer enquiries is consistent with a gradual recovery showing +7% in January, the most positive reading since February 2022. House prices did not drop as much as initially predicted in 2023, as Zoopla look on the bright side of an otherwise difficult year for the housing market – according to data from the property portal, last year 56% of homes in the UK either increased in value or stayed at the same price. There are 7% more homes coming onto the rental market than last year and the price of rent may be easing too after hitting a record high, according to the HomeLet Rental Index, the average rent decreased by 0.9% between November and December 2023. The latest news on the residential property market can be found in our February Residential Property Review. 

This article was written by Akmaral Parnell

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