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The UK Spring Housing Market continues to defy records with the most expensive and fastest moving market in a long while – according to property giant Rightmove, houses in the UK are selling twice as quickly as they were in 2019.
April was also the third consecutive month the UK has seen house prices hit a record high, with the average national asking price reaching £360,101. In London, the average asking price currently stands at £667,110.
Experts reveal that the constant rise in house prices comes from the lack of homes for sale to meet the excess demand from buyers; this is paired with the high speed market competition which is deterring some owners from putting their homes up for sale. More than half of those selling their homes are achieving the full asking price or above when accepting an offer. Though over 125,000 new sellers have taken advantage of the booming market, it is believed that many more are needed in all areas and across all property sectors to meet the high demand of buyers.
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