April 2025 | Rightmove House Price Index
As we move through April, the property market continues to show its strength with a new record average asking price – even in the wake of the recent stamp duty increase. If you’re thinking about making a move, the latest data from Rightmove’s House Price Index suggests it’s still a very active and opportunity-rich time.
Record High Asking Prices – But Sellers Must Stay Savvy
This month, the average asking price has jumped by 1.4% (£5,312) to a new national high of £377,182. That’s a slightly bigger leap than we usually see in April, and it highlights just how resilient the market continues to be. However, with more homes on the market than we've seen in over a decade, sellers need to be smart with pricing to stand out.
Our advice? Stay realistic and lean on your local Avocado expert to guide you in setting the right price from day one. Realistically priced homes are selling quicker – and often without needing a price drop later.
Post-Stamp Duty Spike, But Buyer Confidence Holds
April marks the first full month since the stamp duty increase, but the market hasn’t hit the brakes. Despite the higher tax burden, most buyers are still going ahead with their moves. The number of agreed sales falling through has remained steady, and we’ve seen a drop of nearly 24,000 in the legal completion backlog – a sign that many successfully beat the March deadline.
Demand Up, Stock Up – A Strong Spring for Movers
It’s not just prices on the rise – new buyer demand is up 5% compared to this time last year, and the number of new sellers entering the market has increased by 4%. So, whether you’re buying or selling, this spring offers more choice and more competition – a great combo if you know how to play it right.
North/South Divide Shows Regional Differences
While the market is strong overall, performance varies by region. The Midlands, North, and Wales are hitting new price records this month, fuelled by strong demand. Meanwhile, the South East and South West are seeing more modest growth, and London, despite reaching a new high, could see a price correction soon due to weaker buyer demand and global uncertainty.
Will Mortgage Rates Drop Soon?
Mortgage affordability remains a talking point. The average five-year fixed rate is currently 4.72%, just slightly down from 4.84% last April. But there’s hope: recent global developments, including President Trump’s new tariffs, may prompt the Bank of England to cut interest rates sooner – potentially lowering mortgage rates further and improving affordability for buyers in the coming months.
What This Means for You
If you’re considering a move this spring, now’s a great time to act. With demand holding firm, more homes on the market, and potential for mortgage rate improvements, the window is open for both buyers and sellers to make confident decisions.
All the information in this update comes from Rightmove’s House Price Index. Click here to read the full report.
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