{"id":5582,"date":"2025-02-05T10:39:30","date_gmt":"2025-02-05T10:39:30","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=5582"},"modified":"2025-02-06T15:37:45","modified_gmt":"2025-02-06T15:37:45","slug":"housing-sales-set-to-stay-high-after-a-robust-year-end","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2025\/02\/05\/housing-sales-set-to-stay-high-after-a-robust-year-end\/","title":{"rendered":"Housing sales set to stay high after a robust year end\u00a0"},"content":{"rendered":"
\n
UK housing sales surged in 2024 due to higher incomes and easing mortgage rates\u00a0<\/td>Affordable regions such as Northern Ireland and Scotland led house price growth in 2024\u00a0<\/td>Stamp Duty relief ending in March 2025 may drive early-year housing transaction spikes\u00a0<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n\n
\n

The UK housing market experienced strong sales momentum in the second half of 2024, thanks in part to higher disposable incomes and easing rates on some mortgages.<\/strong> <\/p>\n<\/div>\n\n

\n

House prices rose modestly in 2024. As always, regional variances were evident, with stronger price growth in more affordable regions. Notably, house prices rose in Northern Ireland (5.6%), Scotland (2.4%), and North West England (2.3%), while prices dipped slightly in the South East (-0.1%) and Eastern England (-0.3%). November data suggested that UK house prices overall were likely to be around 2% higher across the year1<\/sup>. <\/p>\n<\/div>\n\n

\n

Largest sales pipeline in four years<\/strong> <\/p>\n<\/div>\n\n

\n

According to Zoopla, there was a substantial sales pipeline towards the end of 2024. This was valued at \u00a3113bn, the largest in four years, with over 306,000 properties in the purchase process \u2013 over a quarter (26%) more than the previous year. First- time buyers (FTBs) were the most active buyer group in 2024, motivated by reduced mortgage rates, making homeownership more affordable compared to renting. In fact, the average mortgage repayment in October 2024 was 17% cheaper than renting, a stark contrast to just a 2% difference in October 2023. <\/p>\n<\/div>\n\n

\n

Stamp Duty relief could fuel further sales stampede<\/strong> <\/p>\n<\/div>\n\n

\n

Going into 2025, it\u2019s expected that the housing market in England may experience a surge in early transactions due to the end of a temporary Stamp Duty relief confirmed in the Autumn Budget. With Stamp Duty thresholds set to revert to previous levels on 31 March, analysts predict a rush to complete purchases in the first quarter, potentially followed by a slowdown in activity as demand tapers. <\/p>\n<\/div>\n\n

\n

1<\/sup>Zoopla, 2024 <\/p>\n<\/div>\n\n

\n

It is important to take professional advice before making any decision relating to your personal finances. Information within this article is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.<\/em><\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

UK housing sales surged in 2024 due to higher incomes and easing mortgage rates\u00a0 Affordable regions such as Northern Ireland and Scotland led house price growth in 2024\u00a0 Stamp Duty relief ending in March 2025 may drive early-year housing transaction spikes\u00a0 The UK housing market experienced strong sales momentum in the second half of 2024, […]<\/p>\n","protected":false},"author":4,"featured_media":5583,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/5582"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=5582"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/5582\/revisions"}],"predecessor-version":[{"id":5666,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/5582\/revisions\/5666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/5583"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=5582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=5582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=5582"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=5582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}