Spring is one of the busiest times in property. When forming a snapshot of current conditions, we overlay our own data with that of the industry’s leading organisations. The last four weeks show the market is moving in the right direction.
The spring bounce has started to affect house prices. More buyers in the market have pushed Great Britain’s average house price up by +0.2% in April. The new average is £366,247.
March was a month of small but significant announcements. The Budget failed to deliver anything spectacular property wise but there were two points that may help home movers. The first is the continuation of the Energy Price Guarantee across Great Britain and the £2,500 threshold remains until July.
With 2023 well underway, a pattern is emerging for this year’s property market. While house price reductions may sound alarming, they’re minimal and against a backdrop of unusually high appreciation.
January serves a lesson in how to interpret the house price data that is released to the media. As the month drew to a close, two different house price indexes caught our eye. They told slightly different stories for the same month.
November brought stability to the property market, with nothing outrageous to report. In fact, positive news began filtering through, starting with mortgage rates. Financial advisers saw rates peak in October and, in some cases, begin to fall in November.
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