🏡 April 2024: House Price Index 📈
In this blog post, we're going to break down the top need-to-know information gleaned from the latest data provided by Rightmove. 📊 From trends and fluctuations to insights that could potentially impact your property journey, we've got you covered.
Here are our top 10 key facts for homeowners from the article:
1. The average asking price of property rose by 1.1% this month to £372,324, almost reaching the record set in May 2023.
2. Annual price growth is at +1.7%, the highest in 12 months.
3. The largest homes sector is driving this growth, showing its strongest start to the year for price growth since 2014.
4. Different market segments are operating at different speeds, with slower growth in sectors reliant on mortgages.
5. New sellers entering the market increased by 12% compared to last year, and sales agreed are up by 13%.
6. The largest homes sector saw the most significant increase in activity, with new sellers up by 18% and sales agreed up by 20% compared to last year.
7. March 28th saw the highest number of new sellers entering the market in 2024 so far.
8. There's a window of opportunity for potential movers due to distractions like sporting events and a potential General Election later in the year.
9. Affordability remains stretched for many buyers due to high mortgage rates.
10. Sellers are advised to price realistically for their local market to secure a sale in the current price-sensitive environment.
Ready to make informed decisions about your property journey? 💼
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