Property Market Updates: Q1

National view

The UK property market is stepping into spring with renewed energy, as average asking prices rose by 1.1% (+£3,876) to £371,870 this month, according to Rightmove’s latest House Price Index. This seasonal uplift is in line with typical March trends and suggests that sellers are pricing sensibly in a competitive market; in fact, the market is the most competitive we’ve seen in over a decade.

Buyer demand is also gaining traction. While the current wave of spring movers won’t have beaten this month’s stamp duty deadline, they will benefit from the highest number of available properties for sale at this time of year since 2015. The number of sales agreed is now 9% higher than this time last year, reflecting growing confidence among buyers even in the face of global uncertainties.

On the supply side, the market is equally strong, with new seller listings up 8% year-on-year. Regarding annual capital growth, Zoopla reports that semi-detached homes are leading the way, rising 2.6% (or £6,820) to an average of £274,100.

All of this comes together to point to a resilient and active market as we transition into summer, which should be encouraging news for both those looking to sell and those planning their next move. 

Regional update

As spring progresses, the Southeast property market continues to demonstrate both stability and quiet confidence. Rightmove reports that average asking prices in the region have risen by 1.7% month-on-month, bringing the average property value to £481,890. While annual growth sits at 0.6%, buyer activity remains encouragingly strong. Properties are now taking an average of 70 days to secure a buyer, a sign of improved market pace compared to earlier in the year.

The early part of 2025 has seen a welcome increase in stock levels, with more homes entering the market in the first three months of this year compared to the previous quarter.  This boost in supply, combined with buyer urgency ahead of April’s changes to Stamp Duty Land Tax (SDLT), contributed to faster sales progression and greater transactional efficiency.

First-time buyers are becoming increasingly active, having delayed their plans in response to last year’s higher mortgage rates. Meanwhile, demand from families and second steppers remains strong, particularly in areas with high-performing state schools, in part fuelled by the introduction of VAT on private education.

Commuter routes into London continue to draw interest, especially along direct lines into London Bridge and Victoria. In addition, lifestyle-led moves are prevalent in downsizers and retirees, many of whom are rethinking their next chapter beyond just square footage.

Ready to make your move? Speak to our expert team to get started today.