What is happening with UK House Prices?... 💹
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Latest Sales Market news and stats from Rightmove's House Price Index 🔢:
Decade-high choice to benefit Spring buyers who miss stamp duty deadline
✅ The average price of property coming to market for sale rises by 1.1% (+£3,876) this month to £371,870, in line with the long-term March average increase, as many new sellers price sensibly amid decade-high competition to sell:
✅ While new Spring buyers will not beat this month’s stamp duty deadline, they will benefit from the highest property choice at this time of year since 2015
✅ Massive log-jam of 575,000 moves in the legal completion process, with many trying to beat March’s stamp duty deadline
✅ Despite ongoing global uncertainty, the property market remains resilient, with positive signs of growth heading into Spring
✅ The number of sales being agreed is 9% higher than at this time in 2024, a positive sign for the market post-stamp duty increase, and the number of new sellers is now 8% ahead of this time last year
✅ Mortgage rates remain only fractionally lower than at this time last year as buyer affordability remains stretched, and Rightmove welcomes proposals by the regulator to look at ways responsible lending can be simplified
✅ The average five-year fixed mortgage rate is now 4.74%, down from the peak of 6.11% in July 2023, but only marginally lower than the 4.84% at this time last year
For the full HP Report from Rightmove, click here for a PDF download 📩
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 ➡️).
📸 Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential 📸
☎📧🗨
🌟 Instant online valuation (immediate response, 60-70% accurate)... Click here 🌟
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