The number of homes listed for sale increased in March as buyer demand remains unseasonably strong.
Estate agents reported a 3.5% rise in the level of stock they have on their books during the past month, according to our latest House Price Index.
The improvement in supply is being driven by existing homeowners looking to make their next move and lock in recent house price gains, with demand for family houses currently twice as high as is usual for this time of year.
Buyer activity is also being driven by the bounce back in demand for city and town centres that’s been growing since the beginning of 2022.
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But despite the increase in listings, there continues to be a mismatch between supply and demand, putting further upward pressure on house prices.
What’s happening to house prices?
House prices rose by 8.1% in the year to the end of February, nearly double the annual rate of 4.2% recorded in February last year, meaning the average home now costs £245,200.
Wales continued to see the highest growth…
