April has ushered in a period of significant stability in the UK property market. After a turbulent period, signs of steady growth are emerging, offering a reassuring outlook for homeowners, potential buyers, and sellers.
Current House Prices
House prices in the UK are on a steady rise, offering a promising outlook for potential sellers. The latest Office for National Statistics data shows that the average house price reached £281,000 in February 2025, reflecting a 1.8% increase year-on-year. In early April, Rightmove reported that the average asking price for new listings hit a record £377,182, driven by seasonal demand and increased seller confidence. If you are considering selling your home, now is a prime opportunity. You can get an instant valuation here https://insights.properly.space/
Mortgage Rates: A Cautious Stabilisation
Mortgage rates have stabilized after last year’s volatility. As of early April, the average two-year fixed rate is 4.84%, and the five-year fixed rate is 4.72%. These rates are significantly lower than the over 6% seen last year. Some lenders even offer sub-4% rates for borrowers with substantial deposits. Buyers should secure a mortgage agreement in principle early to enhance their position.
Sellers: Seize the Seasonal Opportunity
Spring brings an increase in listings, and this year is no different. Rightmove reports a 5% rise in buyer demand compared to April 2024, offering an encouraging sign for potential sellers. If you plan to sell, ensure your home is competitively priced and market-ready.
Buyers: Act Swiftly
Buyers are feeling hopeful as wages rise and inflation eases. To improve your chances in the market, sort your finances early with a mortgage agreement in principle, be prepared to act quickly on desirable properties, and consider long-term value factors like energy efficiency and location.
Rental Market: High Demand with Gradual Stabilisation
The rental market remains tight, with average rents at £1,332 per month in March 2025, a 7.7% increase over the past year. While opportunities exist for landlords, staying updated on legislative changes is crucial, particularly with the upcoming Renters’ Rights Bill, which is expected to [explain the impact of the bill].
Looking Ahead
Spring is expected to see robust market activity, with continued price growth predicted. Nationwide forecasts a 2-4% increase in house prices for 2025 if inflation remains controlled. Staying informed and adaptable will be key to success in this evolving landscape.
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