Interest rates hold the key to the near-term outlook for the sales market, Zoopla says.

The average UK house price was £281,000 in April - £3,000 higher than 12 months ago.

While the UK housing market is now the same size as it was pre-pandemic, its make-up looks different.

Weekly pension income has only increased by 1% p.a. in real terms over the last decade, while house prices have jumped by two-thirds.

UK house prices showed little movement in May, dipping by -0.1% on a monthly basis.

Annual house price growth has rebounded in May to 1.3% - up from 0.6% in April

House prices climbed by 0.7% between February and March.

However, the market remains price-sensitive with average asking prices just 0.6% higher than a year ago.

Annual house price growth increased to 1.1% last month.

The annual rate of change has slowed to 0.6%, from 1.6% in March.