Before the stamp duty deadline, there was a cloud of uncertainty hovering over the property market, and what the changes would mean for it. However, this month’s Rightmove House Price Index has given us some clarity on how the market is performing.
The positive news is the stamp duty changes don’t seem to have had too much influence over the current activity, with a new national record asking price of £377,182 and a lot of buyers still proceeding with purchases even if they missed the deadline.
We’ve dissected the report and broken down the main points that you need to know, so let’s dive deeper into what this could mean for you.
How is the London property market currently performing?
London has also hit a new price record, with an average asking price of £699,200. This has risen half a per cent since last month, and shows us how the market is continuing to stay competitive in the area.
In London, the average time to secure a buyer is currently 65 days, which is at its lowest since October 2024, meaning now is one of the best times for sellers to come to market so far this year.
What does this mean for sellers?
For sellers, now is looking like a great time to get your property on the market. The national average time to secure a buyer is also at a low since October 2024, with new buyer demand up by five per cent from last year.
The main advantage for sellers is the current record-high asking prices, both nationally and in London, meaning that now could be a great time to get a good value for your property. However, this may be short-lived due to global uncertainties such as President Trump’s tariffs impact on the British property market, so it is important to act quickly to ensure you reap the benefits.
What does this mean for buyers?
For those who didn’t manage to complete prior to the stamp duty deadline, despite missing out on the savings, the queue of buyers moving home has reduced by four per cent, so you now get to benefit from reduced delays.
Currently, although asking prices are at a high, there is still a decade-high number of homes for sale for this time of year, with the amount of new sellers coming to market up by four per cent. This means that you can afford to shop around for your perfect home, with plenty of options available across the country. Right now, there really is something for everyone out there.
How can Paramount Properties help?
With the increase of homes coming to market, it is more important than ever to make sure you understand the worth of properties and get expert guidance when choosing your next home. Similarly for sellers, it is just as important you price your property accurately to stand out in a saturated market and attract these buyers.
At Paramount Properties, we ensure that we stay up-to-date with both the national market and local market so we know how to make your property journey as smooth and simple as possible. When you sell with us, we make sure we leave no stone unturned in marketing your property in the best possible way.
Get in touch with our team to begin your property journey.
