March 18, 2024Business Desk

Britain's housing market sees biggest price surge in almost one year

Robust Growth: Residential property prices rose by 1.5% over four weeks, the strongest in ten months.

Source: Pexels

Seller Optimism: Sellers are optimistic despite challenges like buyer affordability and rising mortgage rates.

Source: Pexels

Buyer Demand: Rightmove reports an 8% YoY increase in buyer demand and a 13% rise in sales.

Source: Pexels

London Demand: London's housing demand rises due to people returning to offices, higher wage growth, and lower inflation.

Source: Pexels

Caution Among Buyers: Sellers are taking longer to secure buyers, averaging 71 days.

Source: Pexels