House Prices Hit Record High as Spring Market Heats Up

House Prices Hit Record High as Spring Market Heats Up

Latest market insights from McDonald Estate Agents

The UK housing market has kicked off the Spring season with renewed energy, and we’re seeing some striking developments—both nationally and right here

According to the latest data, the average asking price of a property coming to market has reached a record-breaking £377,182, a rise of 1.4% (+£5,312) compared to March. This marks the first new national price record in almost a year and reflects growing confidence among both buyers and sellers.
 

More Choice Than We’ve Seen in Years

One of the standout trends this month is the number of homes for sale, which is now at its highest level for this time of year in over a decade. Here at McDonald Estate Agents, we’re seeing this first-hand across all areas, with more homeowners choosing to list their properties now that the market is picking up pace.

This increased choice hasn’t slowed momentum—in fact, buyer demand is up 5% compared to the same time last year, while the number of new sellers entering the market has climbed by 4%.
 

Stamp Duty Rise? No Slowdown in Sight

Despite April’s stamp duty increase, there’s been no noticeable drop in buyer confidence. Home movers are continuing with their plans, and we haven’t seen an increase in fall-throughs or buyer hesitancy. The completion backlog even dropped in March—the first time we’ve seen that happen since 2020.

This shows that the market is proving resilient and that motivated buyers and sellers are pushing ahead.
 

Regional Shifts & Local Insights

While every region is moving at its own pace, the Midlands, North, Wales and Scotland are currently outperforming national averages in terms of buyer activity and price growth. Many of these areas have hit new price records this month.

Locally, we’ve seen strong interest in family homes and well-located properties near amenities and good schools, with homes priced accurately continuing to move quickly.

As always, getting the price right is essential in this market. With more stock available, buyers have more to choose from—and overpriced homes tend to sit on the market. Homes priced correctly from day one are finding buyers faster and often securing strong offers.
 

What About Mortgage Rates?

Mortgage rates remain relatively stable, with the average five-year fixed rate sitting just below 5%. However, there’s growing optimism that we could see rates drop more quickly than expected if the Bank of England reduces its Base Rate in May.

This would be welcome news for first-time buyers and upsizers alike, giving a boost to affordability just as the market enters its busiest months.
 

Thinking of Moving? Now Could Be the Right Time

With demand rising, more homes on the market, and the possibility of falling mortgage rates, the conditions are aligning for a busy and buoyant Spring.

Whether you're looking to buy, sell, or just get a sense of what your home is worth, our experienced team at McDonald Estate Agents in Blackpool is here to help.

Pop into our branch, give us a call, or book your free market appraisal online. Let’s make your next move a success.

Adapted from Rightmove