Transactions remain just 3% lower than February 2023.

The new rate follows the launch of a limited edition two-year fix last week.

The ongoing costs associated with maintaining a buy-to-let investment have increased by 18% over the last two years.

Zoopla are forecasting a more balanced market for buyers and sellers this year driven by higher volumes of sales and stable house prices.

The rental market is straining under the pressure of high tenant demand which has seen rental costs spiral in recent years.

Sellers in Scotland can expect to find a buyer for their home in an average of just 43 days, almost twice as quick as those selling a home in Wales.

Tom Bill, head of UK residential research at Knight Frank, looks at the likely impact felt by borrowers coming off fixed-rate deals agreed some time ago on better terms.

Analysis of Land Registry data has revealed a clear geographical divide between the winners and losers of 2023's UK housing market.

The agreement follows the lender's announcement of a £250m bank funding line secured earlier this year.

The housebuilder stated that should market conditions remain stable they would be well-placed to see a return to growth in 2025.