The Rightmove House Price Index for April

The Rightmove House Price Index for April is out and reports that the price of new-to-the market properties increases by an average of 1.1% (+£3,447) this month, the biggest month-on-month rise for over a year and the largest at this time of year since 2016.

Family homes are showing an average 0.7% year-on-year price increase compared to a fall of 0.1% nationally for all properties. The number of sales agreed down 0.4% year-on-year while the national average drop is 1.6%. Movers in the family sector are more willing to come to market, with 0.7% more new sellers than this time a year ago, compared with a 1.2% fall in new-to-the-market sellers nationally.

The Rightmove House Price Index for April

Miles Shipside, Rightmove director and housing market analyst comments:

“The rise in new seller asking prices reflects growing activity as the market builds momentum, egged on by the arrival of Easter. Some sectors of the market and some parts of the country have strong buyer demand and a lack of suitable supply.

However, on average, properties are still coming to the market at slightly lower prices than a year ago. It’s one of the most price-sensitive markets that we’ve seen for years, with buyers understandably looking for value or for homes with extra quality and appeal that suit their needs.”

The family home sector made up of three and four-bedroom properties (excluding four-bedroom detached) is outperforming other sectors in the key metrics. Families’ housing needs, often driven by the need for more space or proximity to schools, are outweighing the ongoing political uncertainty.

“Shipside adds: “Properties in this middle sector offer the ideal escape route to families looking for more bedrooms, more space and their choice of schools. They are often second-steppers out-growing their first property and it gets harder to postpone a move with growing children. They may have already delayed for a year or two waiting for Brexit clarity, and understandably their patience is wearing thin. While some movers are awaiting the outcome of deal or no deal, many families are keeping on dealing in the housing market.”

You can read the whole Rightmove House Price here.

Developer Money Market is an independent comparison website that is designed to help property developers instantly search online for property development funding.  Compare property development finance lenders here.

Looking for Development Mezzanine Funding?

Looking for Development Mezzanine Funding?