Good news for buyers and sellers – the property market is staying strong!

The average asking price for a UK home is holding firm at nearly £375,000. That’s according to the latest figures from Rightmove, the UK’s largest property website.

Despite the upcoming general election, it seems like people aren’t put off buying and selling. Rightmove says that agreed sales are actually up by 6% compared to this time last year, with a 5% increase in buyer demand.

North is Hot, South a Bit Not…

Interestingly, Rightmove found that house prices are rising fastest in the North, where properties are generally more affordable. Meanwhile, down south, prices in the East of England and London have actually dipped a little.

Election Jitters? Not Really!

So, is the election putting people off moving? 95% of people surveyed by Rightmove said the election wouldn’t impact their plans. That being said, it seems some posh pads might be staying put for now, with fewer high-end homes hitting the market compared to last year.

What The Experts Say

Tim Bannister, Rightmove’s director, reckons that while some sellers might be holding back, it’s mostly business as usual for everyone else. He says that pent-up demand and more buyers and sellers entering the market is keeping things ticking over nicely, even though mortgage rates are still a bit high.

What’s Next?

Estate agents Chestertons are predicting a busy June, with buyers feeling more confident about taking the plunge. And with Halifax reporting that rising wages and a more positive economic outlook are helping to keep prices stable, it seems like the property market is in pretty good shape, all things considered.