Best ever spring market for vendors as prices hit new record- RIGHTMOVE
There’s been a remarkable 1.7% increase in the average asking price of homes coming to the market in just one month, according to Rightmove.
The national average is now £354,564 after the largest March increase for 18 years; in addition, the annual price growth rate of 10.4% is the highest that Rightmove has recorded in any month since June 2014.
“This unprecedented price level is being stoked by the greatest imbalance between buyer demand and the number of properties available for sale that we have ever measured at this time of year. This is the strongest spring sellers’ market that we have ever seen in several metrics” says the portal in its latest snapshot, published this morning.”
“There are now more than twice as many buyers as sellers active in the market, which is the biggest mismatch between supply and demand that Rightmove has ever recorded at this time of year.”