Housing market activity is continuing to rebound with both sales agreed and buyer demand up by more than a quarter over the last four weeks compared to the same period a year ago.

This is according to the latest Zoopla House Price Index, which indicated that households that have held off making moving decisions over the last two years are now returning to the market.

The number of sales agreed is 25% higher than a year ago, with sales up by over 10% across all areas and up to 30% higher across the East Midlands and North East.

The number of homes for sale has also continued to grow in the last month as greater confidence among sellers sees more homes being listed for sale. This includes homeowners looking to move as mortgage rates fall but also investors and second homeowners selling in response to recent and possible tax changes in the Government’s upcoming Budget on 30 October.

Executive director at Zoopla, Richard Donnell, said that lower mortgage rates are delivering a “much needed confidence boost” to homeowners, including many who have “sat on the sidelines” over the last two years.

“Market activity is up across the board and expectations of lower borrowing costs will continue to bring buyers and sellers into the market,” Donnell added.

“Speculation over possible tax changes in the Budget and the impact of previous tax changes are continuing to add to the growth in the number of homes for sale. We remain in a buyers market and greater choice of homes for sale will keep house price inflation in check into 2025.”

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