Property news April 2023

SPRING UPDATE 

 

The start of spring has coincided with buoyant housing market forecasts market forecasts.

Reflecting on a first quarter of 2023 which saw buyer choice increasing and price growth moderating, Nicky Stevenson, managing director of premium estate agency Fine & Country, said: “Both Rightmove and Zoopla report that as spring takes hold, demand for property remains above pre-pandemic levels.”

Reflecting on a first quarter of 2023 which saw buyer choice increasing and price growth moderating

With the ratio of new sales to new instructions returning to pre-Covid levels, the demand/supply imbalance that fuelled price growth is correcting. Nationwide reports that the average property prices fell by 3.1% in the year to March, however they remain 17% higher than when the country went into lockdown three years ago