UK property prices see a modest rise as spring market gains momentum

According to Rightmove, the average asking price for properties newly listed on the market has increased by 1.1% (+£3,876) this month, reaching £371,870. This rise aligns with the typical March price increase observed over the years. Encouragingly, many sellers are setting realistic prices rather than overinflating them, a trend often seen during the traditionally competitive Spring market. Buyers entering the market this Spring have access to the widest selection of properties since 2015. While they may not benefit from the current additional stamp duty savings in England and will face higher tax charges starting in April, this increased availability offers some consolation. Despite global economic uncertainty, the UK property market has remained stable and resilient so far this year. Sales activity is on the rise, with the number of agreed sales up 9% compared to this time in 2024, while new property listings have increased by 8% year-on-year. These trends indicate a continued strong market, even as the stamp duty increases take effect in April.