Demand for new homes is down 50% over the last year, says Zoopla, as activity returns to pre-pandemic levels following two years of sustained growth.
Zoopla’s house price index showed prices increased 7.2%, or £17,500, year-on-year, but quarterly growth has slowed rapidly and is set to move negative in the first quarter of 2023. Zoopla expects its house price index to register quarterly price falls over the first half of 2023.