What's happened in the housing market this month?
Wed 10 Apr 2024
Rightmove’s latest report shows Spring home-moving season brings surge in new listings
The Spring home-moving season is already warming up, with a surge of new sellers coming to market the day before the four-day Easter break.
Thursday 28th March saw the highest number of new properties listed for sale on Rightmove so far this year. It was the third biggest day for new listings since August 2020, with Boxing Day in 2022 and 2023 being the only days with more homes coming to market in one day.
There were 45% more homes added to Rightmove on Thursday 28th March than the previous Thursday.
Our property expert, Tim Bannister, says: “A huge number of new sellers came to market as we all geared up for the Easter break, all hoping to capture the attention of those buyers using the long weekend to home hunt alongside their Easter egg hunts. It’s still a price sensitive market, so while the uptick in activity we’ve seen over the past few months is a positive sign, sellers still need to heed the advice from their agent on pricing competitively to help secure a successful sale.”
What’s happening in the housing market right now?
The housing market continues its recovery following a muted 2023, with asking prices up by 0.8% over the past year, currently standing at £368,118 across Great Britain.
A regional look compared to pre-covid years shows varying regional price variations, with asking prices up by 29% since March 2020 in Wales, versus an 8% uplift in London.
The regions where average asking prices have risen most since March 2020
|
Region |
Avg asking price March 2024 |
Avg asking price March 2020 |
% change |
|
Wales |
£256,499 |
£199,249 |
29% |
|
North West |
£257,185 |
£201,199 |
28% |
|
Yorkshire and The Humber |
£247,054 |
£196,002 |
26% |
|
East Midlands |
£287,145 |
£230,783 |
24% |
|
West Midlands |
£288,945 |
£233,224 |
24% |
|
South West |
£383,889 |
£313,127 |
23% |
|
North East |
£187,592 |
£153,694 |
22% |
|
Scotland |
£190,067 |
£159,149 |
19% |
|
South East |
£478,936 |
£408,796 |
17% |
|
East of England |
£415,199 |
£356,709 |
16% |
|
London |
£686,844 |
£638,826 |
8% |
|
Great Britain |
£368,118 |
£312,625 |
18% |
What does this mean if I’m thinking of selling?
If you’re thinking of selling your home, it’s really worthwhile to get an accurate idea of how the market is performing, and any local trends.
We can provide you with an up to date Valuation as well as what’s happening right now in YOUR local market.
Why not give us a call on 0117 932 8165 to book in your Free Valuation of your property.
We’d love to hear from you.
Blue Sky Property
0117 932 8165