Nicholas Mendes of mortgage brokers John Charcol said he was not surprised by the price increase but struck a note of caution.
“It’s a small positive but I don’t think we’re going to see an upward price trend throughout the year, it’s going to be more of a rollercoaster with property prices. She said: “Sellers are taking a punt on higher asking prices. They’re hoping falling mortgage rates and the spring selling season will support some fairly optimistic pricing – particularly at the pricier end of the market. Unfortunately, there are a few signs that some of this confidence may be misplaced, and that they may well need to do a deal to secure a sale.”
“Asking prices remain pretty punchy, up 3 per cent in a year. This has been driven by asking prices for larger properties – which are up 1.2 per cent in a month. However, this end of the market isn’t shifting as fast as it did in the same period in 2019, or as fast as slightly smaller homes. It’s a reasonable indication that they may not quite achieve these prices.