March, 2025
According to Rightmove House Price Index, The average price of property coming to the market for sale rises by 1.7% this month (+£5,992) to £366,189. This is the largest monthly jump in prices at the start of the year since 2020, as new seller asking prices bounce back from the usual seasonal fall in December and begin 2025 with some new year optimism. Average asking prices are still £8,942 below May 2024’s peak, reflecting buyer affordability constraints. However, with a record number of early-bird new sellers coming to market from Boxing Day and into January, there seems to be pent-up demand to move. The number of new properties coming to market is 11% ahead of the same period at the start of last year, while the average number of homes for sale per estate agency branch is currently at the highest for this time of year in 10 years. High buyer choice has contributed to increases in buyer enquiries and sales agreed compared to a year ago, but also means fierce seller competition to attract these new year buyers. Some sellers may find that they have been too optimistic on their initial pricing and get left on the shelf in favour of more competitively priced neighbours.
According to Nationwide House Price Index, The price of a typical UK home rose by 4.1% year on year in January, a modest slowing in the annual pace of growth compared with December. House prices increased by 0.1% month on month, after taking account of seasonal effects.
Houses in the region are taking on average 71 days to go under offer, from the 65 days we saw in December.
New sellers have started the year with a bang, with a record number coming to market not only on Boxing Day itself, but across the whole of January. With more seller competition, sellers will need to work even harder to stand out from the crowd to attract a buyer. This could be with a tempting asking price, standout home features, immaculate presentation of the home, or a combination of all of these. It’s vital that in a competitive market, sellers take on the recommendations of their agent, particularly when it comes to setting a realistic price.
If you are interested to know what your property is worth, please click here to book a market appraisal.Alternatively, call the office on 0121 430 4448 or email enquiries@hshomesofsolihull.co.uk
