House Prices Are Rising – What's the Latest?

Ah, September. Along with the golden leaves and pumpkin-spiced everything, there’s a new surprise this season: house prices have risen. According to Rightmove, the typical price being asked for a home coming onto the market increased by 0.8% – or £2,974 – to reach an average of £370,759.  

Is this new? Well, not really. September usually sees a month-on-month price jump, but this year’s increase of 0.8% is double what’s typically expected. There are several potential reasons for this: The Bank of England cut interest rates in August (for the first time in four years), and we now have the certainty of a new government. These recent changes have improved buyer and seller confidence, and so the market has picked up. 

What this means for you 

While it’s not as hot as spring, the autumn property market remains strong, with lots of interest from buyers and sellers. So, if you’re looking to buy or sell a house, now might be your chance.

The research from Rightmove found that the average property is still taking 60 days to find a buyer – around three days longer than this time last year. This suggests that buyers are taking their time to find the right home at the right price. With house prices on the rise, buyers are tending to be savvier with their spending. 

What are house prices doing in your area? 

If you’re curious about the value of homes in your region after this increase – and so you know roughly what you can afford for your next move - have a gander at our handy House Price Index tool. And, if you’re past the point of kicking the tyres and want to get an accurate figure of your home’s value, book your free house valuation from one of our expert estate agents. We even have a rundown of how our house valuations work in case you’re new to them! 

As mortgage rates ease and home mover confidence increases, now makes a good time to search properties for sale or sell your house. And, we can help with that.