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April Housing Market Update

At the start of the year, much was made of the vulnerable state of the housing market. With many predicting that house prices would decline over the course of 2023. As we move into Spring, the housing market seems to be more resilient than expected and many reports now showing a renewed level of optimism. In our April Housing Market Update Adam Nanson from Your Mortgage Expert in Salisbury delves into the latest market news.

April House Market Update

What is happening with house prices?

“Following a downturn at the end of 2022, the housing market has shown signs of resilience. With average property prices rising again in March by just less than 1%. And, compared to last year, house prices were 1.6% higher in March. Leading to many feeling that the market is showing a great deal of stability right now*.

“In fact, the picture is more positive in certain areas. According to Alex McKechnie, Area partner at Nested in Salisbury, house prices in Salisbury where we are based have increased by £25,000 in the last year**. Meaning that, if you bought a house in Salisbury, you would expect to pay 34% more than the rest of UK.

“The Housing Market stability is, largely, being attributed to an increasingly more positive financial picture. With mortgage rates starting to ease off and the cost of mortgage lending starting to get more affordable.”

Should I buy and sell right now?

“When to put your house on the market or when to buy your first home is a hugely personal thing. And is often influenced by life stages and changes.

“But, if you are thinking about buying or selling, latest figures from On the Market show a renewed optimism from buyers and sellers***. The figures show that 71% of active buyers were confident of purchasing a property within the next quarter. And, 63% of sellers believed they would sell their property within three months.

“Certainly, from my conversations with local estate agents in Salisbury, houses are coming on the market and properties are being sold. And, there is a great deal of positivity towards the housing market as we head towards Spring and Summer.”

How can Your Mortgage Expert help?

“If you are thinking about buying or selling this Spring, get in touch today to start talking about your mortgage options. We will sit down and review your circumstances to find out what you can afford to buy. We can secure you a Decision in Principle which you’ll need to show to Estate Agents as part of your negotiations.

“We have access to the current deals on the market, some of which are not available directly. We have access to over 90 different lenders and we can search thousands of mortgage products.

“As we have been part of the Salisbury Property market for over 7 years, we have built up strong business relationships with local property partners. We can help put you in touch with experts from local estate agents, architects, conveyancers and removal firms to help make the process as easy and stress free as possible for you.”

Thank you for taking the time to read our April Housing Market Update. If you have any questions, we would love to hear from you.

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**Source :

***source :

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There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.

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