20th Apr 2026 01:01
(Alliance News) - Average house prices across Great Britain rose in April, although the increase was less than the long-term average, property website Rightmove reported Monday.
Rightmove said average new seller asking prices rose 0.8% month-on-month in April to GBP373,971, matching the 0.8% increase recorded in March when prices rose to an average of GBP371,042.
The increase was smaller than the long-term April average of 1.2% growth.
"While spring usually brings stronger price growth, higher mortgage rates due to global uncertainty are limiting buyers' spending power and keeping new seller pricing cautious. With the number of homes for sale at an eleven-year high and buyers having more choice than in any April over the past decade, competition between sellers remains intense," Rightmove explained.
Asking prices fell 0.9% year-on-year in April versus a 0.2% decline in March.
According to the property website, price growth was primarily driven by high-priced top-of-the-ladder homes, with four plus bedrooms. Buyers of these homes were typically discretionary movers making purchases in cash.
Colleen Babcock, property expert at Rightmove, said: "With mortgage rates remaining elevated due to the war in Iran, it's not a surprise that price growth is proving strongest in parts of the market less exposed to higher borrowing costs, such as top-of-the-ladder homes, while sectors more exposed to interest rates are seeing slower momentum.
"Across Great Britain, Scotland stands out as an example of resilience, with average prices rising by over 4%. Lower average asking prices and a faster home-buying process continue to support price growth in the Scottish market."
According to the daily mortgage tracker from Rightmove, the average two-year fixed rate has risen to 5.42% from 4.25% before the start of the Iran war, adding an extra GBP235 on average each month to a typical new mortgage.
Polly Ogden Duffy, managing director at John D Wood & Co, added: "With an increased supply of homes - particularly flats lingering from 2025 - buyers have more choice and are less inclined to engage with overpriced properties, meaning sellers who price too ambitiously risk missing out on serious, proceedable buyers. In contrast, the family housing market is continuing to perform strongly, especially in areas with sought after schools, where demand can still outstrip supply and, in some cases, result in multiple bids."
Marc von Grundherr, director of Benham and Reeves, commented: "There are still plenty of reasons for optimism. Wage growth continues to outpace house price inflation, lending criteria have improved and, while mortgage rates have edged higher in recent weeks, they remain below where many buyers expected them to be at the start of the year."
To determine these figures, Rightmove measured 147,515 asking prices of properties put on sale by estate agents from March 8 to April 11 and advertised on the Rightmove website.
By Elijah Dale, Alliance News senior reporter Asia-Pacific
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