House prices update: prices reach new record despite more subdued late Spring market ๐ŸŒผ

House prices update: prices reach new record despite more subdued late Spring market ๐ŸŒผ

#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk


Latest Sales Market news and stats from Rightmove's House Price Index ๐Ÿ”ข:

Prices reach new record despite more subdued late Spring market ๐ŸŒผ


๐Ÿ”ธ New seller asking prices rise by 0.6% (+ยฃ2,335) this month to a new record of ยฃ379,517. However, this monthโ€™s seasonal
price increase is the lowest at this time of year since 2016, as the decade-high number of homes for sale limits price growth
๐Ÿ”ธ The traditionally strong late Spring market is more subdued following a busy first quarter of the year. Along with the smaller than usual price increase, there has been a dip in new buyer demand following Aprilโ€™s stamp duty increase:
๐Ÿ”ธ After a busier than usual March, new buyer demand slowed in April to 4% below the same month in 2024. However,
demand in the year to date is still 3% ahead of last year, and there are early signs of a bounce-back in May
๐Ÿ”ธ Despite Aprilโ€™s lull in new buyer demand the number of sales being agreed in the last month is 5% higher than at this time last
year, indicating that spoiled-for-choice buyers are still being tempted by the right property at the right price
๐Ÿ”ธ The number of new properties coming onto the market for sale is now 14% ahead of this time last year
๐Ÿ”ธ As new seller activity outpaces new buyer demand, some caution on price expectations is needed to achieve a sale
๐Ÿ”ธ The latest Bank Rate cut could provide a boost to buyer affordability and activity later in the year. Rightmoveโ€™s weekly
mortgage tracker shows that the lowest available two-year fixed mortgage rate is now 3.72%, down from 4.75% last year

For the full HP Report from Rightmove, click here for a PDF download ๐Ÿ“ฉ

Wouldn't it be good to know the value of your home in today's market? Contact Lisa (lisa.dahl@cavendishproperty.co.uk) for an up-to-date valuation (or complete the form opposite โžก๏ธ).

๐Ÿ“ธ Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential ๐Ÿ“ธ


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๐ŸŒŸ Instant online valuation (immediate response, 60-70% accurate)... Click here ๐ŸŒŸ
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#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk

#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk

#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk

#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk