Propertymark Response to Zoopla House Price Index

Nathan Emerson, CEO of Propertymark comments on the Zoopla House Price Index for January 2024:

“An increase in house sales should give people the confidence to sell their properties again. As the Bank of England chose not to increase interest rates before the end of 2023, consumers should feel positive that borrowing costs are not going to increase for them. The next Monetary Policy Committee in February could be an opportunity for the Bank of England to cut interest rates and stimulate growth in the housing market now that inflation is not at the levels we witnessed at the start of last year.”