🏡 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

Found A Home You Love But Haven’t Sold Yours Yet? Read This Before You Make An Offer

You have found the house. The problem? Yours is not even on the market yet. Before rushing into an offer, here is how to make yourself a stronger buyer, protect the opportunity and avoid putting your dream move at risk.

CLICK HERE >

Is Your Home Still Right For You? The Numbers Behind Rightsizing

Around 4.3 million households headed by someone aged 65 or over have at least 2 spare bedrooms. But moving to a smaller home is about far more than bedrooms. Here is how to work out whether rightsizing could improve your finances, lifestyle and future.

CLICK HERE >

Sold STC Is Only The Start. Here’s How To Make Sure Your Move Actually Reaches Completion

Getting an offer feels like the finish line. It isn’t. Around 1 in 3 transactions fall through and the average purchase takes around 120 days after an offer is accepted. Here is what homeowners can do before and after selling to give their move the strongest chance of completing.

CLICK HERE >

Thinking Of Selling In The Next 6 Months? Do These 7 Things Before You Call An Estate Agent

You do not need to be ready to sell tomorrow to start preparing today. With sellers facing the highest September competition in 12 years, these 7 steps can put you in a much stronger position before your home ever reaches the market.

CLICK HERE >