Record Asking Prices!!!



The average price of property coming to the market for sale reaches a new record of £375,131, rising by 0.8% (+£2,807) in
the month, as the momentum of the Spring selling season exerts some modest upwards price pressure :
• The market remains price-sensitive with average asking prices just 0.6% higher than a year ago
• The top-of-the-ladder sector is still leading price growth, with average prices up by 1.3% compared with last year
• Pent-up demand from would-be buyers who paused their plans last year is a key driver behind increased home-mover
activity despite mortgage rates remaining elevated for longer than anticipated:
• The number of sales being agreed during the first four months of the year is 17% higher than last year, outstripping
the 12% increase in the number of new sellers coming to market
• Despite these positive lead indicators for higher transaction levels this year, the painful average of 154 days between
agreeing a sale and legal completion remains a challenge for both agents and movers:
• With 62 days on average needed to find a buyer before the legal process even begins, would-be sellers hoping to be
in a new home for Christmas need to be taking action now
• Rightmove’s analysis shows that properties that need an asking price reduction take more than three times longer
to find a buyer as those that do not, giving sellers who price right from the outset the edge to sell more quickly

Written by Name of Author

Deposit Protection Service
My Secure Self Storage
The Mortgage Avenue
Client Money Protect
The Property Ombudsman