UK Housing Market Revives with Significant Asking Price Increase in March
Asking prices for newly marketed homes rise by over £5,000, led by London's market, despite mortgage rate concerns.
- UK housing market sees a significant revival in March, with asking prices for newly marketed homes jumping by more than £5,000.
- The average asking price in the UK now stands at £368,118, still below the peak seen in May 2023.
- London's housing market leads the revival, with some boroughs experiencing annual asking price increases of up to 5.6%.
- Buyer demand is up 8% from last year, with sales agreed 13% higher, indicating a strengthening market.
- Despite the positive trends, experts caution about the impact of recent mortgage rate increases on buyer affordability.
The Guardian 
Evening Standard 
The Telegraph 