Are house prices still above pre-COVID levels?

Earlier this week, Zoopla published its monthly House Price Index – let’s dive in!

Here’s the five key takeaways:

1.     Annual house price inflation has slowed to 5.3% (dropping from 8.6% in 2022)

2.     Buyer demand and sales volumes are 20-50% lower than a year ago, but still above pre-pandemic levels (2017-2019)

3.     Sellers accepting the highest average discount on the asking price for 5 years (average 4.5%) as ‘a buyers’ market takes hold’

4.     Average discount to asking price is a whopping £14,000 (equivalent to a third of homeowners’ pandemic house price gains)

5.     The property market is on track for ‘a soft landing’, with Zoopla expecting‘modest’ price falls of up to 5%


We spoke to Smartr365 CEO and Founder Conor Murphy to find out more.

“The good news for aspiring buyers is that house price inflation is correcting and returning price tags to the ballpark that we would expect pre-COVID. The volume of residential property transactions is also stabilising from its pandemic-induced peak – the latest data from HMRC suggests that the number completed in January is comparable to that in January 2018 and 2019 (all sitting around 78,000).

“Nonetheless, with economic conditions unpredictable, consumers remain heavily dependent on brokers for advice, meaning demand on time and resources is high. Tech tools specifically designed to cut down on admin and manage lead flow and product sourcing can maximise efficiencies whilst helping to deliver the best possible service.”

To see how our tech tools can benefit your business first-hand, book your free demo today.