Zoopla House Price Index January 2023

• Executive summary 27% Buyers looking for 1 and 2 bed flats in January 2023• House price growth ground to a standstill in Q4 2022, dragging the annual rate of house price inflation lower to +6.5%

• Most regions registered small price falls in Q4 2022

• Demand has rebounded to pre-pandemic levels, in line with 2018 and 10% higher than in 2019

• It’s going to be a slow start to Q1. Early buyers are focusing on flats with a shift away from houses in response to higher borrowing costs and the hit to buying power

• We expect demand to improve further in the coming months as mortgage rates continue to fall and would-be movers realise that large price falls are unlikely to materialise

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