Rightmove have reported that the market is much more stable than many had thought! The average house prices have increased by £3,000 this month. The increase is below the typical March rise of 1% over the past 20 years but it still reflects a much more stable market than had been expected. 

Rightmove data also showed discrepancies depending on region and the price bracket of homes on the market. First and second time buyers were up by 0.5% while homes in the upper price bracket rose by 1.2%. The northern market is rising much faster at the moment than property in London, where that seems to be on the decline. 

It could be another few months before there is a real trend back, 

• “It’s Jekyll and Hyde stuff,” said Vince Courtney, chief sales officer of Purplebricks. “The market is performing quite erratically with no clear, consistent national pricing trend. Prices aren’t going to be like this forever, but I think we’re in for another couple of months before they settle down.”