Prices hit record high as properties sell at fastest pace ever recorded
April 19, 2021
- National average price of property coming to market hits a new all-time high of £327,797, following a 2.1% (+£6,733) monthly jump
- Encouragingly, 145,000 properties were newly marketed this month, but not enough to meet buyer demand:
- Number of sales agreed up by 55% on same period two years ago, reducing the stock of properties that are available to buy to the lowest proportion ever recorded
- Buying frenzy for new stock, with both the average number of days to sell a property reaching its lowest ever level, and the number of houses selling within a week reaching its highest ever level
- Mass market of two- and three-bedroom semi-detached homes selling fastest
- March saw time spent on Rightmove surpass two billion minutes in one month for the first time
- Although some of the froth is likely to come off the market later in the year once some government economic measures end, we expect activity to remain robust for the rest of 2021
A monthly price surge of 2.1% (+£6,733) has propelled new seller asking prices to a new record high, with the national average now standing at £327,797. This figure shatters the previous record, set in October last year, by over £4,000. The big jump comes as buyer demand sets another new record, chasing the lowest ever proportion of property available to buy. This is now the fastest-selling market that Rightmove has measured since our records began.
You May Also Enjoy
Building Site Accidents and Compensation: A Guide for Injured Workers
One mistake, one faulty piece of equipment and an unsafe working setup could cause a construction laborer much more than just aches and pains. One injury can result in medical costs, showing up on working days, reduced income and a path to long recovery. Under certain circumstances, the workers may be entitled to get compensation…
Read More 
First-Time Buyers: Why 4–5 Houses is the Sweet Spot
House hunting before the stress kicks in: Four to five houses is the sweet spot for first-time buyers Just 20% of us feel excited on a first property viewing, rising to 47% by viewings 4 to 5 There’s a U shape trajectory of excitement when it comes to the viewing process However, there is a…
Read More 
Two in five mortgage holders switched banks for a better mortgage deal
Of those who have a mortgage and switched banks, 41% did so to get a better mortgage rate deal and 30% did it to receive an incentive related to their mortgage Only 15% of people moving home switched their bank account during the move, while far more switched broadband (46%), energy (38%), and mobile phones…
Read More 
Housing market trends highlight a changing landscape
The housing market has seen many challenges across the year to date and, in many ways, the property landscape has been a year of two extremes already. At the start of the year, there was a quiet but optimistic consumer confidence in the air. However, with the global economy impacting almost every aspect…
Read More 
Breaking Property News 7/9/26
Daily bite-sized proptech and property news in partnership with Proptech-X. Privera uses Silex to provide its employees with a shared platform for source-based research Silex, the Swiss AI platform for legal research and productivity, today announced that Privera has selected and deployed Silex to support legal research and knowledge workflows across its nationwide real estate…
Read More
Mortgage rate rises loom as major lenders reprice
Major lenders have moved to increase mortgage rates to catch up with recent rises to swap rates, according to Moneyfactscompare.co.uk analysis. Over the coming days, more lenders are expected to review mortgage rates in response to higher swap rates, with HSBC and NatWest so far the biggest banks to increase rates since the start…
Read More