Spring Surge: Fresh Listings Spark New Beginnings in the Home Market:

As the spring air brings renewal, so too does it invigorate the home-moving season, offering new horizons for eager buyers and sellers.

The day leading into the Easter holidays witnessed an exceptional burst of activity in the property market, marking the year's highest tally of new listings on Rightmove. This noteworthy moment, right before the four-day Easter break, not only set a record for 2023 but also emerged as the third most prolific day for new listings since the late summer of 2020, surpassed only by the activity on Boxing Days of 2022 and 2023.

The spike in listings on Thursday, 28th March, revealed a 45% increase in new properties being showcased on Rightmove, compared to the preceding week. It appears that sellers are seizing the vibrancy of the spring season to attract potential buyers, many of whom might blend their Easter celebrations with the search for their ideal home.

Rightmove's expert, Tim Bannister, noted, "The lead-up to the Easter break saw an impressive surge of sellers entering the market, all aiming to capture the attention of buyers amidst their holiday plans. The market remains price-sensitive, and the recent uptick in engagement is indeed encouraging. However, for a sale to materialise successfully, sellers must be mindful of the market dynamics and price their properties competitively, following their agent's guidance."

The housing market is gradually regaining its momentum after a somewhat subdued 2023, with asking prices witnessing a slight uptick of 0.8% over the past year, setting the average asking price at £368,118 across Great Britain. A detailed regional analysis reveals diverse trends compared to the pre-COVID period, with Wales showcasing a significant 29% increase in asking prices since March 2020, in stark contrast to London's more conservative 8% growth.

This season heralds a period ripe with opportunities for buyers and sellers alike, signalling a time of rejuvenation and potential within the housing market.

Written by Veera Josey, 7th April 2024

Source, Rightmove