Detached homes lead the way

• House prices rose by 1.8% in the year to March. House prices grew by 1.8% in the year to March, back in positive territory for the first time since last August – and stronger than at any time since April 2023.

• Detached homes led the way with 2.5% growth year-on-year, reaching an average price of £440,085. Semi-detached homes follow closely behind with 2.2% annual growth. Growth was more muted but still positive for lower priced homes, with terraced houses rising by 1.3% and flats by 1%.

• There is a widespread expectation that interest rate cuts are not far away and 12% more new homes were listed for sale than a year ago. Source: #Dataloft by PriceHubble, UK HPI March 2024, Rightmove