UK house prices hit new record high in April

UK house prices hit a new record high in April, with the average asking price reaching £377,182, according to Rightmove.
This represents a 1.4% increase from March, exceeding the typical seasonal rise and surpassing the previous record of £375,131 set in May 2024.
The surge comes despite recent changes to stamp duty regulations, which became less generous for some buyers in England and Northern Ireland.
Lower mortgage rates offered by some lenders may offset the impact of the stamp duty changes.
Rightmove reports increased buyer and seller activity, indicating a resilient market despite high supply levels. However, they advise sellers to price properties carefully in the competitive market.