Average UK House Prices Hold Steady, Terraced Houses See Increase: Zoopla House Price Index

The UK housing market has seen minimal changes in average house prices, according to the latest Zoopla House Price Index. Released today, the research revealed that terraced houses have experienced the most significant increase in value.

As of April 2024, the average house in the UK is valued at £264,300, marking a slight decrease of 0.1 per cent year-on-year. Flat values have dropped by 0.6 per cent, while terraced houses have seen a 0.9 per cent increase worth approximately £2,000.

More homes are currently on the market, with the supply of three- and four-bed family homes showing a significant increase. Data from Zoopla indicates that there is currently £230 billion worth of housing for sale in the UK.

Executive director at Zoopla, Richard Donnell, noted that the growth in the supply of homes for sale is a sign of renewed confidence among homeowners who may have delayed moving decisions in the previous year. He also mentioned that the announcement of the election may affect the pace of new sales being agreed upon.

Overall, the property market has been slowly recovering in recent months, with prices remaining steady and more listings becoming available. It is crucial for sellers to price their homes realistically in order to achieve a successful sale in 2024.