Spring activity boost pushes asking prices close to new record

Posted 2 months ago.
Spring activity boost pushes asking prices close to new record
News
 > Spring activity boost pushes asking prices close to new record

The average asking price of property coming to the market rises by 1.1% (+£4,207) in April to £372,324, just £570 short of the record in May 2023, says Rightmove. While the annual rate of price growth is now +1.7%, the highest level for 12 months.

A key factor behind this growth towards a near-record average price is the largest homes, top-of-the-ladder sector, which is seeing its strongest start to the year for price growth since 2014, with sellers up by 18% compared with last year, and the number of sales being agreed up by 20%. However, the market remains price-sensitive, and is operating at different speeds, with prices and activity rising more slowly in the more mortgage dependent first-time buyer and second-stepper sectors.
The number of new sellers coming to the market is up by 12% compared to this time a year ago, and the number of sales being agreed is up by 13% as both seller and buyer activity rebound from last year’s much more subdued Spring.

Homeowners are springing into action, with Thursday 28th March seeing the highest number of new sellers coming to the market in one day so far in 2024, and the third largest since August 2020. There appears to be a window of opportunity for those considering a move to act, with a busy summer of sporting events, followed by a likely General Election, creating more home-mover distractions than usual adds Rightmove.

Don’t miss our next article, subscribe to our news updates

Recent articles

50,000 rental properties needed says Rightmove

Posted 4 weeks ago
50,000 rental properties needed to bring supply of rental homes back to pre-pandemic levels says…
50,000 rental properties needed says Rightmove

Annual house price inflation unchanged at -0.2% from February

Posted 1 month ago
Zoopla’s latest index shows that house prices are firming as market activity improves.
Annual house price inflation unchanged at -0.2% from February

5 enquiries for every home for rent and changes to rental legislation

Posted 2 months ago
UK rental inflation has slowed to 7.8%, down from 11% a year ago – the…
15 enquiries for every home for rent and changes to rental legislation

We use cookies on this website. You are free to manage cookie settings via your browser at any time. To learn more about how (and why) we use cookies, please take a look at our Privacy Policy.

Ok, got it!

Stay informed & sign up for exclusive updates

Be the first to know about our latest listings, local news, industry insights, and expert advice. Join our regular newsletter for exclusive updates and valuable information.

By submitting your email, you are acknowledging your have read and agree with our privacy policy.