House prices continue to stabilise with twelve-month projections signalling a return to growth.

The average house price is now only around £1,800 below the peak seen in June 2022.

The annual rate of change returned to positive territory for first time since January 2023.

The number of homes for sale are a fifth (21%) higher than a year ago, with buyer demand up 11% and sales agreed 15% higher.

Agreed sales in the first six weeks of 2024 are 16% higher than over the same period last year.

On a monthly basis prices have shown signs of positivity with a 0.1% increase.

Housing market resilience means that the total value is still £1.585 trillion higher than pre-pandemic.

The typical UK home now costs £291,029, over £3,900 more than last month.

The annual rate of growth recorded the strongest outturn since January 2023.

UK buyer demand is up 12% and sales agreed are up 13% year-on-year.