Zoopla’s latest house price index shows that, despite the Middle East conflict and higher mortgage rates, homes are taking only a day longer to sell than last year – 33 days.
However, the process is slower in London, with the average home taking almost a week longer to sell (6 days) in the capital and in more affordable commuter areas, which tend to be more dependent on first-time buyers.
In these areas, buyers are more sensitive to higher mortgage rates due to increased prices and higher stamp duty costs. Zoopla’s data shows that four in five first-time buyers in London pay stamp duty equivalent to 3% of the purchase price, compared to less than one in ten elsewhere in England.
Movers in Harrow face the longest sale time at 54 days – a 65% increase on 33 days a year ago. Meanwhile, the time to sell is up a third (34%) in southeast London to 43 days.
Buyer enquiries rebound
Post-easter, as a ceasefire was announced and mortgage rates began to fall, buyer enquiries rebounded to their highest level since the conflict began, only 2% below last year.
Sales agreed were marginally down, 3% below last year. UK house price inflation held steady at 1.3%, compared to 1.8% a year ago, with the average price of a UK home sitting at £271,700.
Northern England and Scotland are seeing both the fastest price growth and shortest sales times, with properties selling in only 15 days in Scotland – unchanged from last year.
Richard Donnell, executive director at Zoopla, said: “The best-value homes are moving quickly, particularly in northern cities and Scotland, whereas the room for negotiation is greater across southern regions.”
A market holding together better than expected
Reacting to the Zoopla figures, Nathan Emerson, CEO of Propertymark, said his agent members were also reporting a market that’s holding together better than many expected. However, like Zoopla, he warned that differed depending on location and buyer type.
“In first-time buyer hotspots, especially across outer London, agents are seeing hesitation creep in as affordability pressures bite,” he said.
“The Easter rebound highlighted by Zoopla was encouraging.
“It suggests underlying demand hasn’t disappeared, it’s just more price-sensitive and cautious. For property professionals, this means sharper pricing strategies, clearer communication with sellers, and more support for buyers navigating higher upfront costs.
“This isn’t a stalled market, it’s a more selective one, and agents are working harder on behalf of buyers and sellers to keep transactions progressing.”
