House prices growth slowed in May, to levels not seen since December 2019 according to the latest Zoopla data.
This slowdown comes after two years of unprecedented growth in property prices. Much of this growth has been driven by a ‘race for space’ post pandemic, and attractive short-term stamp duty reductions.
But Zoopla points out that despite this lower rate of growth it is still a sellers’ market, with overall demand for housing across the UK significantly higher than the five-year average.
In total Zoopla figures show that annual property prices were up 8.4%, compared to 9.2% growth in April. On a quarterly basis prices are up by just 1.4%, the slowest growth since March 2021. Read more from Mortgage Strategy article >
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