🏡 March 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. Price Surge: Newly marketed properties saw a 1.5% (£5,279) increase in average prices this month to £368,118, the highest March increase in 10 months.

2. Optimistic Market: Despite prices rising, they are still £4,776 below the May 2023 peak, offering a window of opportunity for buyers. 📈

3. Increased Activity: Sales agreed are 13% higher compared to last year, suggesting a more active market in 2024 than in 2023.

4. Sector Trends: Larger homes sector is driving buyer demand, with sales 18% higher than last year. 🏡

5. London Leading: London sees the biggest increase in buyer demand, driven by factors like return to office and stable house prices.

6. Sensitive Market: Despite positive trends, the market remains sensitive to pricing and external events. 📉

7. Budget Impact: Lacklustre Spring Budget affected buyer demand, prompting a pause in interest from some buyers.

8. Longer Sale Times: The average time to find a buyer is now 71 days, the longest since 2019, suggesting buyers are more selective.

9. Mortgage Rates: Average 5-year mortgage rate rose to 4.84%, testing buyer affordability.

10. Advice for Sellers: While optimism is high, caution and negotiation may be needed due to stretched buyer affordability and market sensitivity.

Ready to make informed decisions about your property journey? 💼

Don't navigate the market alone!

For tailored insights and expert guidance tailored to your circumstances, why not schedule a marketing consultation with us today?

📊 Let's work together to ensure you're equipped with the most accurate information to make confident choices.

Click start to fill in the form and your local property partner will review the information you have provided and contact you as soon as possible.

First Name

Last Name

Mobile Phone

Your Email Address

Are you looking to

Buy

Sell

Rent

Let

Please enter message here

Please confirm that it is okay for us to contact you about this information as well as our products and services. By confirming, you also agree to the use of cookies to enhance your experience. (You will always have the right to unsubscribe or manage your cookie preferences at any point in the future.)

Confirm

What Sitting On The Market Really Does To Your Home Sale

The longer a home sits on the market, the more buyer perception changes and usually not in the seller’s favour. What starts as strong interest can quickly become hesitation, reduced urgency and lower offers. Here is what actually happens when a listing goes stale and how sellers can avoid it.

CLICK HERE >

What Buyers Can Actually Afford Right Now And Why It Matters To Sellers

House prices are only one side of affordability. Mortgage rates, monthly payments and lending criteria now shape what buyers can realistically offer more than ever before. Here is how affordability is affecting buyer behaviour and what sellers should understand before pricing their home.

CLICK HERE >

The Mistakes Buyers Notice Instantly When Viewing A Home

Many homeowners unknowingly damage their sale before their home even launches online. Small mistakes in preparation can massively affect buyer perception, viewing levels and final offers. Here are the most common issues buyers notice instantly and how to avoid them before going to market.

CLICK HERE >

What Actually Delays Property Sales In The UK?

Many property sales do not collapse because buyers change their mind. They collapse because of delays, poor communication and problems discovered too late in the process. Here are the biggest causes of delayed property sales in the UK and what sellers can do to reduce the risk.

CLICK HERE >