in the know

Prices hit record highs in first-time and second-stepper sectors..

Our House Price Index was released to the media this morning and gives a picture of house prices and activity over the last month.

  • Average asking price of newly-marketed property jumps by 1.5% (+£4,503) this month as strong demand from home movers in the first two months of the year now feeds through to stronger upwards price pressure:
    • First-time and second-stepper sectors hit all-time price highs of £189,840 and £272,031
    • Overall average prices also hit new record in four out of eleven regions
  • Price rise exacerbated by:
    • Dip in supply with 5% fewer properties coming to market compared to the same period a year ago

Buyers springing into action looking to benefit from possible stamp duty savings or beat forecast interest rate rise.