Record-Breaking House Prices: Why Now Is A Brilliant Time To Sell

House prices reach a new high, making it an ideal time for sellers.

April brought a wave of optimism to the UK housing market, with the average asking price for a home hitting a record high of just over £377,000. This 1.4% monthly increase, equating to a rise of £5,312, reflects growing confidence among both buyers and sellers, despite recent changes to stamp duty.

Even with the end of the temporary stamp duty holiday at the start of April, the market has remained robust. In fact, new home-buyer demand is up 5% compared to this time last year, and the number of sellers coming to market has increased by 4%. This shows that people are still determined to move home, undeterred by tax changes or economic uncertainties.

Another encouraging sign is the sheer volume of homes for sale – the highest we’ve seen for this time of year in over a decade. With a wider selection of properties available, buyers have more choice, which naturally keeps the market moving.

On the financial side, mortgage rates could fall more quickly than expected if the Bank of England opts to reduce the Base Rate next week. This would be a welcome boost for buyers and sellers alike, making borrowing more affordable and helping more deals to progress smoothly.

As the spring market gathers pace, warmer weather often brings out more buyers – and with strong demand already in motion, we can expect this momentum to continue.

For sellers, this is excellent news. Not only are asking prices reaching record highs, but with buyer interest increasing and more properties coming to market, it’s a prime time to take advantage of the active conditions.