With mortgage rates adjusting to over 4%, the market has become the most balanced it has been in the past five years.
The annual growth rate of rents for new lets has slowed to 6.6%, down from a peak of 16% in October 2021.
In June, the UK property market has demonstrated resilience, maintaining a positive momentum that began earlier this year.
UK rental inflation has slowed to 6.6%, the lowest rate in 30 months.
The UK property market has experienced increasing activity, with the number of agreed sales up year-on-year across all regions.
In the 12 months leading up to March 2024, the average private rents in the UK surged by 9.2%, marking a notable increase from the 9.0% recorded in the preceding 12-month period ending February 2024.
This trend suggests a more balanced housing market compared to pre-pandemic levels, offering increased opportunities for prospective homebuyers in 2024, provided sellers maintain realistic pricing str
The UK property sales market continues to exhibit positive momentum as various indicators demonstrate an upward trajectory in activity.
The latest data on the UK rental market indicates a significant deceleration in rental inflation, marking the lowest rate in two years.
The average UK rent for new lets has experienced a notable increase, reaching £1,220, marking an 8.3% rise compared to the previous year.
The UK property market is witnessing a resurgence in sales activity, driven by pent-up demand and growing buyer confidence.
The UK's rental market continues to demonstrate resilience and growth, evident in various key rental indices.
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