UK: Rightmove Property Price Index

March Sees Modest Rise in Asking Prices for New Sellers

In March, the average asking price for newly listed properties increased by 0.8% (£3,023), reaching £371,042. This growth aligns with typical seasonal trends. However, the supply of homes on the market remains at its highest level for this time of year in over a decade, which has curbed more substantial price increases. As a result, sellers are encouraged to set more competitive prices to capture buyer attention.

Despite recent global uncertainties stemming from the conflict in Iran, the property market has remained stable so far this March. It is still too soon to determine the long-term effects of these events. Current daily market data reveals that the number of agreed sales is just 2% lower than the robust activity seen last year.