New data from Rightmove shows that average new seller asking prices rose by 0.8% (+£2,929) in April to £373,971.
However, this is smaller than the long-term April average of 1.2%:
The portal, in its latest market snapshot, says increased mortgage rates and stiff competition to find a buyer are limiting new seller asking price growth this spring, with the number of homes for sale still at an eleven-year high for the time of year.
Despite higher mortgage rates due to the global uncertainty, the housing market has remained surprisingly resilient so far, it says.
New buyer demand for April to date is 7% below this time last year but consistent with this year’s trend of lagging behind 2025.
Meanwhile the number of sales agreed is currently 3% behind this time last year.
In addition the number of homes newly coming to market is only 1% behind last year, and 13% higher than in 2024.
While the sharp rise in mortgage costs dent 2026’s buoyant start, Rightmove insists there are tailwinds keeping the market moving.
For example, it says buyer affordability has benefitted from average earnings being up by 3.9% on last year, outpacing average asking prices which are down 0.9%.
A typical mover is also now able to borrow more, due to last year’s review of mortgage lending limits.
Notably buyer demand has held up the strongest in the most mortgage‑reliant, typical first‑time buyer sector (-6%), suggesting that for now higher mortgage rates are not putting off new potential first-time buyers from enquiring.
Rightmove’s daily mortgage tracker shows that the average two‑year fixed rate has risen to 5.42%, from 4.25% before the start of the war, adding a monthly average of around £235 to a typical new mortgage
