Heading towards a healthy Spring market as house prices continue to steadily increase in March
Jason Tebb, Founder of Ivy Gate Property Group comments:
“The figures out from Rightmove today are reassuring for both buyers and sellers, albeit in slightly different ways. And that’s rare. Because normally, property prices spell great news for one or the other, just not at the same time.
Here’s the deal; House prices are still increasing, and according to latest Rightmove data, the month on month increase in asking prices in March is 1.3% on average across the UK. So for sellers, this equates to a healthy market, in line with the exceptionally busy period at the same time last year, evidencing continued buyer demand, no doubt assisted by continued near-rock bottom mortgage rates. However, although house prices are increasing, the Rightmove data also suggests that the rate of house price growth is getting slower. Which is good news for buyers, because a calm market means that we hopefully won’t end up in another ‘housing bubble’, with prices running away from well-intentioned and otherwise proceedable buyers.
Overall, the message is pretty clear; realistically priced properties will do and are selling, and there is more than enough confidence in the market, together with buyer demand at all levels and price points, for this to continue as we head into the Spring market.”