Rightmove’s monthly House Price Index was released to the media this week and gives a national picture of house prices and activity over the past few weeks.
Here are some of the key facts:
Hottest ever competition to buy a home and highest ever prices
• The national average price of property coming to market hits a new all-time high after rising by 0.3% (+£1,091) this month, to £338,462
• This new record high is only £15 higher than the previous record set in July, a sign that prices are now stabilising
• Hottest ever competition to buy, with buyer demand per property for sale more than double pre-pandemic levels
• The rise of the ‘power buyer’ continues – those who have already sold their own home, have cash in the bank, or are first time buyers with a mortgage agreed, are in a more powerful position and are out-muscling those who still need to sell their current home
• Early signs of a better-balanced autumn market with more homes coming up for sale to help with buyer choice, with the number of new listings in the first two weeks of September 14% higher than the last two weeks of August
Click here to read the report in full.