Sales price snakes and ladders
22/05/2024
- The average asking price of homes being listed for sale on Rightmove has climbed by 0.8% in the last month, to a new high of £375,131.
- The top-of-the-ladder sector is driving price growth, with 4-bed detached and 5+-bed properties increasing 1.6% in the last month, ascending higher than the first-time buyer and second stepper segments.
- A spring pick-up in the property market combined with pent-up demand is resulting in upwards pressure on prices. May is typically a strong month for price growth, with new price records set in May in 12 of the past 22 years.
- However, the market remains price sensitive, with 62% of offers currently being accepted at up to 5% below asking price, with a further 20% slipping to more than 5% below.
