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June 2025 - Housing

Buyers gain leverage as housing supply sees a 13% year-on-year increase, according to new research: Latest research from the House Price Index (HPI) reveals that the number of homes for sale has seen a 13% increase compared to this time last year while other factors such as modest price inflation, buyer discounts, and favourable borrowing conditions presents a compelling case for the housing market currently favouring buyers.

The House Price Index (HPI) produced by Zoopla is a repeat sales-based price index, using sold prices, mortgage valuations and data for recently agreed sales and is designed to accurately track the change in pricing for UK housing. Several key indicators from the 2025 HPI Index point to increased buyer leverage, particularly when compared to market conditions in recent years.

One of the most significant shifts, according to the report, is the increase in housing supply. The number of homes for sale is up 13%, compared to the same time last year, providing buyers with more options and greater negotiating power. This is particularly evident in southern regions of England, where the increase in supply is most pronounced. Listings in the South West have risen by a fifth (21%), London by 17%, and the South East by 15%.

The report highlights how growth across the UK has remained modest, with annual house price inflation at just 1.6% as of April 2025; another factor that supports greater affordability for buyers. In several regions, particularly in the South, price growth is even lower. The South East recorded a 0.5% increase, London 0.6%, and the East of England 0.9%. In some cities, prices have actually declined, with Bournemouth down 0.4% and Aberdeen down 1.4%, compared to this time last year.

Even where prices are rising, such as in Blackburn (5.9%) and Belfast, which recorded the highest growth at 6.1%, growth is concentrated in more affordable northern cities such as Manchester, Liverpool, Wigan, and Barnsley, where price rises, are on average, 3% higher than the national average.

In addition to analysing the increase in housing supply, the research also shows that on average, homes are typically selling at around 3% below the average asking price, equating to a discount of approximately £16,000 for buyers. Additionally, although there has been a 6% year-on-year increase in the number of sales agreed, this follows a sluggish period for the housing market following on from the pandemic boom in 2021 and reflects improving conditions rather than a seller-dominated market.

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