Biggest monthly house price rise in a year

17 Avril, 2019, 11:59 | Auteur: Auguste Feret
  • Biggest monthly house price rise in a year

Asking prices for British homes rose by the most in over a year in the four weeks to April 6, a survey showed, adding to other tentative signs that the housing market may have passed the worst of its slowdown ahead of Brexit.

The 1.1 percent monthly rise in asking prices was a bigger increase than usual at the start of the spring season and reduced the fall in prices in annual terms to 0.1 percent, property website Rightmove said.

The average asking price on a home is now £305,449 - which is still 0.1% lower than a year ago despite the spring bounce in April.

House prices pushed up 1.1% on the month in April compared to a 0.4% increase in March.

The EU's Brexit extension is providing short-term relief for the property market.

Mr Shipside said the Brexit extension could also now give hesitating home movers encouragement "that there is now a window of relative certainty in uncertain times". Still, Britain is not out of the woods yet.

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Estate agents said that "bored of Brexit" home buyers and sellers can not keep putting their lives on hold and want to get on with moving. Whilst activity and the actual number of sales is still lower than this time previous year, the number of active buyers within the market has increased which has helped to contribute to price rises for the best properties available.

They said both sellers and buyers have become fed up with putting their lives on hold as the political uncertainty goes on and are choosing to get on with moving. "Families in particular have been most active in the market over the past few months with house moves driven by schools, job relocations or upsizing".

Nick Leeming, Chairman of Jackson-Stops, comments:"With Brexit delays becoming somewhat of a blur, buyers across the country are getting back to business as usual and are re-establishing the search for their dream home". However, with demand now far outweighing supply, buyers, particularly those in the family homes market, have become frustrated at the lack of new homes coming to market.

"This greater competition has resulted in upward pressure on prices, so it is perhaps not surprising to see today's data showing a greater monthly price increase".

Rightmove director Miles Shipside said last week's delay of Britain's exit from the European Union could spur hesitant home movers into action.

While there is still a slight reluctance to price according to current market conditions, this growing demand and lack of suitable stock means now is as good a time as any to secure that little bit more for your property in what are otherwise tough market conditions.

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