April 2026 | Rightmove House Price Index
Prices rose 0.8% in April, showing resilience despite high mortgage rates. Demand is slightly down, but sales remain steady and supply strong. Improved affordability and lending support buyers, especially first-timers, in a more balanced, competitive market.
The property market has shown notable resilience this April, even as higher mortgage rates and global uncertainty continue to shape buyer and seller behaviour.
Average asking prices for newly listed homes have risen by 0.8% (+£2,929) this month, bringing the average to £373,971. While this marks an increase, it falls below the long-term April average rise of 1.2%, highlighting a more measured pace of growth as sellers remain mindful of affordability constraints and growing competition.
A Market Balancing Act
This spring market is being shaped by a combination of headwinds and tailwinds. On one hand, elevated mortgage rates and a high number of available properties—currently at an eleven-year high for this time of year—are limiting how far sellers can push prices.
On the other hand, the market continues to demonstrate underlying strength. Buyer demand in April is currently 7% below the same period last year, consistent with a broader trend seen throughout 2026. However, agreed sales are holding up better than expected, sitting just 3% behind last year’s levels.
Supply remains strong too. The number of new properties coming to market is only 1% lower than last year, and significantly higher—up 13%—compared to 2024. This sustained level of activity is helping to keep the market moving despite economic uncertainty.
Affordability Providing Support
One of the key factors supporting market resilience is improving affordability. Average earnings have risen by 3.9% compared to last year, outpacing the slight 0.9% decline in average asking prices over the same period.
Additionally, changes to mortgage lending rules last year mean that many buyers are now able to borrow more, helping to offset the impact of higher interest rates.
Encouragingly, demand remains strongest among first-time buyers, with enquiries in this segment down just 6%. This suggests that, for now, higher mortgage rates are not significantly deterring new entrants to the market.
Mortgage Market Snapshot
Mortgage rates have edged higher in recent weeks due to ongoing global uncertainty, but they remain relatively competitive in a longer-term context. According to Rightmove’s daily mortgage tracker, the average two-year fixed rate continues to reflect these fluctuations, reinforcing the importance for buyers to stay informed and act strategically.
Looking Ahead
While the market has faced some unexpected challenges, its ability to remain stable highlights a strong foundation. Realistic pricing will be essential for sellers navigating increased competition, while buyers can benefit from greater choice and improving financial conditions.
Overall, 2026 continues to present opportunities on both sides of the market. Those who are well-prepared and responsive to changing conditions will be best placed to make the most of this evolving landscape.
What This Means for Buyers
With more homes available, steady demand, and improving affordability, now remains a favourable time for buyers to explore their options. First-time buyers, in particular, are well-positioned to take advantage of stable pricing and increased borrowing potential.
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All insights in this update are based on the latest House Price Index data from Rightmove.
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