The UK housing market has shown resilience heading into the spring season, with asking prices rising in line with typical patterns despite heightened geopolitical uncertainty and rising mortgage rates. While buyer caution is evident, underlying activity and supply levels point to a market that remains steady rather than disrupted. The latest data from Rightmove suggests a more measured pace, not a loss of momentum.
- Asking prices rose by 0.8% in the four weeks to March 7, in line with seasonal trends
- Asking prices were 0.2% lower compared to the same period last year
- The average two-year fixed mortgage rate increased from 4.24% to 4.51% within one week
- Sales agreed were 2% lower than 2025 levels but 5% higher than in 2024
- The average time to sell is the longest for this time of year since 2013
- The number of homes for sale remains at an 11-year high
Original article source: Zawya
Even as external pressures begin to build, data reveals a market that remains steady. Seasonal price growth indicates that seller confidence is still intact, though clearly more measured than in previous years.
Buyers, meanwhile, are taking a more considered approach. Rising mortgage rates and wider uncertainty are influencing decision-making, but not stopping activity altogether. Sales are still progressing, supported by a significant increase in available stock.
With more choice and longer selling times, the market is becoming more balanced – moving away from urgency and towards negotiation. That typically creates better conditions for well-informed buyers.
Stability in pricing, combined with increased supply, allows for a more strategic approach to acquisition. Rather than signalling weakness, current conditions point to a market that is adjusting and settling into a more sustainable rhythm.
