House prices up 2.6% in April, says Rightmove
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.House prices continue to rise, with sellers ignoring pre-election uncertainties and putting up asking prices in April by 2.6 per cent – or £5898 – compared with March, according to property website Rightmove. Prices are running 6 per cent higher than in the same month of 2009.
But there are two warning signs, says Rightmove. First, the shortage of properties widely credited as a key factor in recent price rises is starting to ease. More than 25,000 properties have been going on the market each week for the last two months, the longest sustained period at such levels since August 2008. Estate agencies’ unsold stock levels are also increasing, rising from 65 to 68 between March and April.
Second, is the looming General Election. So far the housing market has seen little effect. But if the result is a hung parliament, the resulting uncertainty could undermine the boost in activity which normally follows an election.
“As far as the housing market is concerned, any election result is better than no result,” Miles Shipside, the commercial director at Rightmove, said. “In the even of a hung parliament, the market is likely to go into suspended animation until greater certainty emerges.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments