The latest housing market reports from Rightmove, Zoopla and OnTheMarket all point towards a resilient and active property market as we move through the summer months.
Rightmove’s May House Price Index reported that the average asking price of property coming to market increased by 1.2% during May, reaching a new national average of £378,304. Despite ongoing economic uncertainty, sales activity remains steady, with agreed sales only marginally below last year’s levels and buyer choice at its highest point for this time of year since 2015.
Zoopla’s May House Price Index paints a similarly encouraging picture. UK house prices are currently 1.5% higher than a year ago, while agreed sales are running ahead of last year’s levels despite buyer demand being slightly lower overall. One particularly positive trend is the strength of the first-time buyer market, with buyers targeting homes approximately £10,000 more expensive than they were a year ago. This demonstrates continued confidence and improved affordability for many purchasers. Zoopla also noted that committed buyers continue to support transaction levels, helping maintain market momentum.
Growing Confidence Across the Market
The latest OnTheMarket Sentiment Report also reflects improving confidence amongst both buyers and sellers. Increased market activity, healthy levels of enquiries and a willingness from buyers to proceed with purchases suggest that the market remains robust. While buyers have greater choice than in previous years, motivated purchasers are still actively seeking well-presented and realistically priced homes.
David Phillip FRICS commented:
“The latest reports from Rightmove, Zoopla and OnTheMarket all reinforce what we are seeing locally across North Leeds. There are motivated buyers in the market and homes that are priced correctly from day one are attracting strong interest and achieving successful sales. Buyers are well informed and have more choice available, making accurate pricing more important than ever. Sellers who listen to professional advice and launch at the right price are putting themselves in the strongest possible position to move successfully.”
Why Correct Pricing Matters
For homeowners considering a move, the overall message from the latest market data is positive. There is confidence amongst buyers, transaction levels remain healthy and demand continues for well-priced homes. Whilst the market may be more price-sensitive than in recent years, realistic pricing combined with expert marketing continues to deliver excellent results.
Thinking of Moving?
If you are considering selling your home and would like a free market appraisal call David Phillip FRICS on 0113 467 6400.
David Phillip Estate Agents selling homes in North Leeds and covering Bramhope, Adel, Cookridge, Pool-in-Wharfedale and Alwoodley.
