More prospective house sellers are returning to the UK’s property market, pushing agreed home sales to their highest point of the year in May, according to Zoopla, although it warned that the rebound in activity could be knocked by rising mortgage rates.
House prices have fallen by 1.3% nationally over the past six months, the property website found, but the speed of price falls has been decreasing as buyer confidence slowly improves.
Demand for properties remained weaker in May than a year earlier, although last month agreed house sales climbed 11% higher than the five-year average, which appears to have convinced more sellers to put their properties on the market.
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