What is currently happening to the UK housing market?

Posted on Tuesday, April 23, 2024


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Homeowners are springing into action with Rightmove data showing the 28th March seeing the highest number of new sellers coming to the market in 2024 so far, and the third largest amount since August 2020! Almost hitting the record in May 2023, the average asking price on a property increased by 1.1%/ £4,307 from rightmove data. Compared to this time last year, the number of new sellers coming to the market is up by 12% and the number of sales agreed has increased by 13%. On simpler terms, the rental market is still sensitive to pricing and is moving at varying speeds. Particularly, there's slower growth in prices and activity within sectors heavily reliant on mortgages, such as first-time buyers and second-steppers.

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