Stronger spring buyer demand

Stronger spring buyer demand and sales as market marches into spring

The positive start to the year continues, paving the way for a greater number of home purchases than last year says Rightmove. The average price of newly marketed properties rises by 1.5% (+£5,279) this month to £368,118, higher than the historic average March increase of 1.0% and the biggest for 10 months as the market continues its recovery after a muted 2023.

March is typically a strong month for asking price growth, as both buyer and seller activity levels rise, and the spring selling season gets underway. The number of sales being agreed is now 13% higher than at this time last year and buyer demand is now 8% above last year. However, the stronger than usual price growth this March indicates that new sellers are feeling much more confident, with some perhaps being over-optimistic, that there is enough buyer activity and affordability in their local market to achieve a higher price. Despite the above average price increases in this opening three months of the year, asking prices are still £4,776 below their peak in May 2023. For those who can afford to buy and have yet to take action to move this year, this may provide a window of opportunity to buy as we now seem to be past the bottom of the market.

Our award-winning sales team look forward to helping you make your move stress-free.

Arins Property Services - selling & letting homes in Wokingham, Lower Earley, Tilehurst, Reading and Winnersh since 2009.

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