The UK housing market is maintaining steady sales activity despite rising uncertainty over events in the Middle East, Zoopla’s latest House Price Index shows. Higher mortgage rates linked to these tensions are affecting buyer demand.

While transactions continue, the market is increasingly reliant on a smaller group of committed buyers, as some households delay moving. This is widening the gap between weaker overall demand and relatively stable levels of agreed sales.

Table 1:  Divergence between sales agreed and home buyer enquiries