Latest: April property market report

House prices continue to dominate conversations, but it’s crucial to dig deeper than the headlines. At James Anderson, our local market strategy is focused on ensuring sellers achieve real results — and that means setting competitive, realistic asking prices from day one.

Asking Prices vs. Sold Prices:

There can be a difference between what sellers ask for and what buyers are actually willing to pay. According to Rightmove’s March House Price Index, asking prices rose by +1.1% last month, with the UK’s average asking price now sitting at £371,870. While this might seem like a confidence boost, it doesn’t always reflect final sale values — and in some cases, inflated asking prices can delay or even derail a sale.

Our advice? Don’t be swayed by national averages or overly optimistic listings. Properties that are priced competitively are the ones that attract serious buyers and move quickly through the sales process.

Buyers Are Active — But Picky

The good news is that buyer demand remains strong. With more choice on the market, today’s buyers are not only well-informed — they’re also spoilt for choice. Overpricing could see your property left behind in a competitive landscape.

Sold Prices Show Stability — Not a Surge

Looking at what homes are actually selling for paints a clearer picture. Halifax’s latest data shows sold prices have remained steady, with annual growth holding at +2.9% and the average UK sale price now at £298,815. These figures signal stability, not significant price increases — and highlight the importance of smart, market-aligned pricing strategies.

Rents start creeping upwards

HomeLet’s latest rental index found the UK’s average rent rose slightly in February (its most recent reporting period). This follows four months of consecutive falls. The UK’s new average rent now rests at £1,275.

Rents rose sharpest in the East Midlands, where the cost to rent a property had risen +1.3% in a one month period. Other strong performers included the North East (+1.2%) and Scotland (+1%). Rental values in Greater London, Yorkshire & the Humber and North West stayed the same as the previous month.

Demand for rentals still high

Zoopla’s March Rental Report gave us more detail about tenant behaviour. It says 12 renters are still chasing every available rental property. The portal added there were +11% more rental homes available now, when compared to this point in 2024. Only the West Midlands goes against the grain, where rental supply is -10% lower than last year.

On balance, landlords are sticking with the buy-to-let sector but new analysis shows they are changing tack. Figures lodged at Companies House show the number of companies holding buy-to-let properties has surpassed 400,000, making it the largest single type of business in the UK. This marks a huge switch from sole trader to limited company status for better tax efficiencies. 

If you would like to know more about your local property market, please get in touch.