Asking prices for homes in Britain rose by 1.3% this month compared to last year, even with the end of a tax break, pushing the average price to a new record, property website Rightmove reported on Monday.
The average price for homes listed between March 9 and April 5 reached £377,182 ($494,448), marking a 1.4% increase from the previous month—an unusually large rise for this time of year, according to Rightmove.
“Increased choice seems to be bringing more movers into the market, with both buyer and seller numbers up as the market remains resilient,” said Rightmove executive Colleen Babcock.
This optimistic outlook contrasts with recent data from mortgage lender Halifax, which showed a 0.5% monthly drop in house prices, and Bank of England figures that highlighted a six-month low in mortgage approvals.
Rightmove noted that while the number of agreed sales fell since the tax break ended, the number of new potential buyers is still up by 5%, and homes for sale have increased by 4% compared to a year ago.
The impact of U.S. President Donald Trump’s tariff policies remains uncertain but could potentially boost the market if they prompt faster interest rate cuts by the Bank of England, Rightmove suggested.
Despite the uncertainty, mortgage rates have only slightly decreased over the past year, with the average five-year fixed-rate mortgage now at 4.72%, down from 4.84% last year.
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