Zoopla's house price index shows a 19% increase in buyer demand in December compared to the same period last year. This growth occurred against the backdrop of rising mortgage interest rates, demonstrating the market's strong adaptability to changes.

The report notes that the increase in the number of homes for sale in the market provides buyers with more choices and stimulates sales activity. Additionally, the alignment of pricing expectations between buyers and sellers has positively contributed to sales growth.

Zoopla's analysis suggests that cash buyers are a crucial support for the demand in the 2023 property market, with cash buyers expected to represent one-third of this year's total property sales. This indicates the presence of more buyers with sufficient funds to purchase properties.

At the same time, the organization also points out that due to steady growth in average incomes and the strict mortgage affordability tests for new mortgage borrowers implemented since 2015, house prices have not experienced the significant declines expected by the market.

The survey shows that 40% of those looking to buy a property in the next two years are first-time buyers. This data indicates that the real estate market remains attractive to young people and new buyers. Additionally, the rapid growth of rents is stimulating this group, even though buying a home requires more savings and affordability.

Richard Donnell, Executive Director of Zoopla, commented on the performance of the property market this year: "The property market in 2023 has shown greater resilience than many expected. The mortgage regulations implemented in 2015 effectively prevented the overheating of the housing market, explaining why house prices have not seen a significant decline this year."

According to Zoopla's forecast, the recent trend of increased property sales is expected to continue into early 2024, indicating the sustained activity and development potential of the UK property market. This series of data shows that the UK property market is displaying strong growth momentum and providing positive signals for future development.

However, it is important to note that market stability is closely related to factors such as the political and economic environment, interest rate changes, etc. Investors and buyers should remain vigilant and conduct thorough market research and risk assessments.