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Rightmove House Price Index March 2019

Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:

“The latest report from Rightmove highlights what we’ve been seeing on the ground for some time, which is that whilst the market in London and the South East remains subdued, in other regions of the UK the momentum continues with buyers transacting in reasonable numbers despite the current political and economic climate. Movers are supported in no small part by some of the most competitive mortgage rates we’ve seen for some time, with many lenders reaching the end of their financial year and therefore releasing headline rates in order to attract new business onto the books.

The fact that Rightmove has reported their traffic levels have remained steady over the past month entirely isn’t surprising; we would suggest that the pent-up demand in many areas, probably due as much to a lack of available homes for sale restricting choice as hesitancy due to the lack of clarity around Brexit, is likely to mean that those buyers who’ve held off moving are now deciding to take the plunge. Indeed, we’ve seen substantial numbers of prospective buyers working with our network in order to get their Agreement In Principle in place over the past few weeks, indicating that market confidence is still very much in evidence, regardless of ongoing debate at Westminster about our departure from the EU.”

To read the full Rightmove report, click here.

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