Zoopla Cities House Price Index April 2020

60% of buyers push ahead with property plans

This month’s Cities Index Report shows an 88% spike in demand in the week following the reopening of the market on 13 May. We expect this to moderate in the coming weeks. 

While 60% of potential movers we surveyed told us they’re pressing ahead with their property hunt, longer-term demand prospects will be dictated by two factors. 

First is how many of the 373k stalled transactions we discussed in last month’s report progress to completion. Second is the ongoing availability of higher loan-to-value mortgages, to help ease buyers back into the market.


UK city house price growth 1.9 % 2019 UK city house price
London house price growth 1.1 % The annual rate of price inflation

Report highlights

The bounce-back in demand across cities varies by country. Cities in Scotland, Wales and Northern Ireland have not recorded any major rebound in demand like that seen across English cities. 

In England, demand has rebounded fastest in cities along the south coast and in northern England. Demand in Portsmouth and Southampton is around 40% higher than it was in February this year. There’s also strong growth in Newcastle and Leeds. 

Demand for homes in London has been partly diluted, as would-be buyers look to commuter towns outside the capital in response to COVID-19. 

 

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Zoopla Cities House Price Index April 2020

60% of buyers push ahead with property plans

This month’s Cities Index Report shows an 88% spike in demand in the week following the reopening of the market on 13 May. We expect this to moderate in the coming weeks. 

While 60% of potential movers we surveyed told us they’re pressing ahead with their property hunt, longer-term demand prospects will be dictated by two factors. 

First is how many of the 373k stalled transactions we discussed in last month’s report progress to completion. Second is the ongoing availability of higher loan-to-value mortgages, to help ease buyers back into the market.