🏡 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 Every Landlord Should Be Reviewing Right Now

Being a landlord is no longer passive. Rising compliance standards, shifting tenant expectations and changing returns mean small gaps can quickly become costly. Here is what landlords should be reviewing right now to protect their investment and maximise performance.

CLICK HERE >