The types of property that have jumped in value as record number of homes hit the market

The average house in the UK is valued at £264,300, as of April 2024, which is a small drop of 0.1 per cent year-on-year.

Those who live in flats have seen a slightly bigger drop in value, with inflation taken into account.

Flat values have dropped 0.6 per cent in value, according to Zoopla, whereas those in terraced houses have seen the biggest increase in value at around £2,000, or 0.9 per cent.

Average house price change

Flat: £190,800, -0.6%

Detached houses: £447,300, -0.5%

Semi-detached houses: £270,100, +0.6%

Terraced houses: £233,600, +0.9%

The property market has been slowly recovering in recent months and has seen a huge jump in the number of listings, according to the data.

It found there are more homes for sale than at any point in the last eight years, with an average agent having 31 homes for sale - up 20 per cent on this time last year.

The supply of three- and four-bed family homes has jumped and there are currently £230billion worth of housing for sale in the UK.

Executive director at Zoopla Richard Donnell commented: “The growth in the supply of homes for sale is evidence of renewed confidence amongst homeowners, some of whom delayed moving decisions in 2023.

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“The quarterly rate of house price inflation has picked up in recent months as more sales are agreed and prices firm.

“The announcement of the election will slow the pace at which new sales are agreed while greater choice for buyers will keep house prices in check over 2024.

“It’s essential that those serious about moving in 2024 price their homes realistically if they want to achieve a sale.”