PThe average asking price for UK homes jumped by almost £3,500 in April – making it the biggest month-on-month uplift in over a year, new data has revealed.
Across Britain, the average price of new-to-the-market properties increased by an average of £3,447 in April – equivalent to 1.1% – making it the biggest month-on-month increase since March 2018, according to the House Price Index.
The average asking price of a property is now £305,449 – still 0.1% lower than a year ago, despite the spring bounce in April.
Home buyers and sellers are ‘bored of Brexit’ and cannot keep putting their lives on hold whilst negotiations continue.
It is not uncommon to see prices increases at this time of year, but it is still the biggest increase seen for the month of April since 2016.
However, Brexit uncertainty continues to hold back the market as new seller asking prices, the number of properties coming to the market and the number of sales agreed all below this time last year.
The value of properties are holding their value better with an average 0.7% year-on-year price increase. This is compared to a national fall of 0.1% for all properties.
The best way to describe the sentiment in the market at the moment is “bored of Brexit” – fed up with sitting on their hands, sellers are now looking to get on with their lives and move to a new house and buyers are looking to secure somewhere new.
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