Haart’s National Housing Market Monitor for March 2015 has reported a surge in buyer and seller activity.
The independent estate agent, which has a network of over 200 branches, found that UK average property prices increased 5.6% annually and 0.9% on month in March to £206,726 – the highest on record.
New buyer demand grew by 22% month on month, while there was an increase in UK-wide homes for sale of 27% on last month.
In addition, London property prices are out of the negative, increasing 0.3% annually and 6.7% on the month after falling in February.
Paul Smith, CEO of Haart, said: “Our advice to both buyers and sellers has been to enter the property market before heading to the ballot box in May, if they are considering doing so this year. History tells us property prices tend to take a swing upward after a general election and even for those current homeowners upsizing, the increase in price on their new home will be greater than any gains made through sitting tight in their current property.
“Our latest data indicates that prospective buyers and sellers have put their ducks in a row and are entering the market in high levels this spring – undeterred by the whispers of market uncertainty. This in turn has driven up UK property prices by almost 1% in a single month and 5.6% annually.
“London house price growth has slowed but on average prices are still up on an annual basis in March, driven by unrelenting high demand – 19 buyers are still registered for each new property for sale in the capital.”