Britons are “getting their money’s worth” as the UK housing market bounces back after a turbulent few months, an expert has revealed.
Sales across the nation reached their highest level in 27 months after many people put plans on hold amid soaring mortgage rates.
House prices also started to fall at the end of last year but costs rose for the third consecutive month in March, according to building society Halifax.
Propertymark, which represents over 18,000 estate agent members, claimed recent figures show the market is rebounding.
House prices rose by 0.8 per cent month-on-month to £287,880.
PA
Nathan Emerson, Propertymark chief executive, said: “We have seen positive activity in February and March and expect it to continue into April.
“Prices are holding firm with a little negotiation back on the table, meaning both sellers and buyers feel they are getting their money’s worth.”
Propertymark also revealed how the number of sales per branch have grown in March.
Estate agents reported having 35 homes for sale per branch last month.
The latest figure is the highest since January 2021.
The number stood at just 20 properties on sale per branch this time last year.
Estate agents have claimed the number of sales being agreed is in line with the average number for pre-pandemic Britain in 2019.
House viewings increased by 21 per cent in March compared to February.
Sales across the nation reached their highest level in 27 months after many Brits put plans on hold amid soaring mortgage rates
PA
The average number of new buyers registering per branch has also soared by a third since the beginning of 2023.
Halifax recently described March as a month of “resilience” for the housing market.
House prices rose by 0.8 per cent month-on-month to 287,880.
Economists previously predicted the market to take a hit of 0.3 per cent.
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