UK house prices surge in April

House prices in Britain jumped by an average £7,000 in April 2021. According to figures by Rightmove, across the UK, a 2.1% month-on-month increase has pushed the average asking price to a record high of £327,797.

The new record high is £4,000 higher than the previous record which was set in October 2020. The North West is witnessing one of the highest jumps in prices, where the average house price is £218,000, 2.2% higher than the previous month and up by 9% per year.

Property being snapped up by buyers

Not only are house prices soaring, but they are being snapped up by buyers, says Rightmove. During the first two weeks of April, homes were being marked as sold in an average of 45 days. 23% of properties that sold in March were on the market for less than a week.

The most in demand properties are two- and three-bedroom semi-detached homes, with 30% of these types of property selling after being on the market for less than a week.

The surge in house prices up and down the country in April and the speed at which property is selling, is being pinned on the recent extension of the stamp duty holiday, coupled with the return of low mortgages that require a low deposit.

A ‘good time to come to the market’

Tim Bannister Rightmove’s director of property data, commented: “This spring surge means that it’s a good time to come to market and achieve a good price and a quick sale, especially if you don’t have an onward purchase.”

If you are looking to buy property in 2021, whether it’s a first home, a second or third home, or an investment purchase, buying at auction can be the perfect way to find the right house for the right price.

Check out the lots we’ve got listed in our next property auction, or contact our friendly team to find out more about buying property at auction.