Christmas housing market slowdown starts early as price growth ‘stalls’ in some areas
UK house sales fall ahead of autumn Budget
- The UK housing market is experiencing an earlier-than-usual slowdown in buyer demand and agreed sales ahead of the festive period, according to property website Zoopla.
- This dip is partly due to a strong final quarter in 2024, when many rushed to complete sales, and uncertainty surrounding the autumn Budget, particularly affecting homes priced above £500,000.
- While regions like Scotland and northern England show robust house price growth, southern areas including London are seeing a sharp slowdown in new sales and virtually stalled price increases.
- The average time to find a buyer is around 37 days, extending to 45 days in London, although a significant pipeline of nearly 350,000 homes is currently working through the sales process.
- Zoopla's executive director, Richard Donnell, stated the slowdown is modest and less severe than previous market shocks, forecasting house prices to end 2025 1 per cent to 1.5 per cent higher.