The latest data from Rightmove reveals a “surprisingly resilient” housing market, with the real-time market snapshot showing new buyer demand for April 7% below this time last year but consistent with this year’s trend of lagging behind 2025. First-time buyer demand is slightly stronger, down by 6% on last year.
However, the last seven days have shown some early positive signs of new buyer demand accelerating beyond last year, although Rightmove points out this could be partially due to the timing of the Easter holidays.
The number of sales agreed is just 3% behind, with the number of new homes coming to market 1% down on last year but 13% higher than in 2024. The average price of a newly listed home for sale is now £373,971, up 0.8% from March.
Activity trends are difficult to accurately compare with this time last year, Rightmove points out, due to different Easter dates and the end of temporary stamp duty relief.
“And it is still too early to assess the full impact of the war in Iran,” the report notes. “Next month should bring some further clarity.”
Matt Smith, Rightmove’s mortgage expert, said: “The initial shock appears to have passed, with mortgage rates stabilising over the past couple of weeks, but they remain elevated. The next moves will depend on upcoming UK inflation data and how the Bank of England responds.
“If policy decisions align with current market expectations, a period of relative stability is more likely than meaningful falls.”
Jeremy Leaf, north London estate agent and a former RICS residential chairman, commented: “There’s no question war in the Middle East has had an impact on property market activity with hostilities continuing but not as severe as feared.
“Although the Rightmove data reflects asking, rather than achieved, prices, steeper reductions might have been an early warning of tougher times ahead bearing in mind worries over affordability and especially mortgage rates.
“However, in our offices the negative effects have also been relatively limited to date with the overwhelming majority of sales proceeding as well as new listings and buyer enquiries steady.”
