Rightmove data shows modest April growth below long-run average
The average price of homes newly listed for sale rose by 0.8% in April, up £2,929 to £373,971, according to property listing platform Rightmove.
The increase was below the long-run April average rise of 1.2%, as higher mortgage rates and global uncertainty tempered what is usually a stronger month for pricing.
Five-year asking price trend 
Source: Rightmove
Rightmove said sellers faced stiff competition, with stock at an 11-year high and buyers having more choice than in any April over the past decade. It added that new listings and agreed sales were holding up relatively well, despite borrowing costs rising in recent weeks.
Price gains were concentrated among larger, higher-value homes. Rightmove said top-of-the-ladder properties with four or more bedrooms were leading the rise, reflecting a buyer mix that typically includes more discretionary movers and cash purchasers, who are less exposed to mortgage costs.
Regionally, Scotland recorded the strongest growth, with average prices up 4.3% on the month. Rightmove attributed this to lower asking prices — and therefore smaller borrowing needs — and a faster home-buying process compared with higher-priced areas in southern England.
“With mortgage rates remaining elevated due to the war in Iran, it’s not a surprise that price growth is proving strongest in parts of the market less exposed to higher borrowing costs, such as top-of-the-ladder homes, while sectors more exposed to interest rates are seeing slower momentum,” said Colleen Babcock (pictured right), property expert at Rightmove.
“Across Great Britain, Scotland stands out as an example of resilience, with average prices rising by over 4%. Lower average asking prices and a faster home-buying process continue to support price growth in the Scottish market.
“However, for most of the market, the combination of rising mortgage rates and the number of homes for sale being at its highest level for the time of year over a decade, means that competitive pricing is crucial for sellers looking to attract buyer interest and secure a sale this spring.”
“With mortgage rates fluctuating due to global affairs, along with lower economic uncertainty due to the Labour government, we are seeing a lower number of transactions but only slightly down compared with this time last year,” added Tomer Aboody, director at specialist lender MT Finance.
“With buyers having more options as more homes come to market, prices are still buoyant although rising at a much slower pace. Buyers are slowly realising that the days of virtually ‘free money’ are long gone, and that current rates are actually more or less in line with historical averages, give or take 100 basis points.”
On demand, Rightmove’s snapshot of daily activity showed enquiries to estate agents in April to date were 7% lower than the same period in 2025. It said the comparison was complicated by the timing of Easter and last year’s expiry of temporary stamp duty discounts, and noted early indications in the past week of firmer demand that could be influenced by the holiday calendar. Rightmove said it was too soon to judge the full impact of the conflict in Iran on activity.
The company also pointed to factors supporting affordability. Annual earnings growth was running at 3.9%, while asking prices were 0.9% lower than a year earlier. It added that typical borrowing capacity had improved following last year’s review of the loan-to-income cap and the Financial Conduct Authority’s reminder to lenders on stress-testing flexibility. First-time buyer demand was described as the most resilient segment, down 6%.
Rightmove said the number of sales agreed in April to date was 3% behind the same point last year. New sellers coming to market were 1% lower than last year, but 13% higher than in 2024, suggesting supply remained strong.
Rightmove’s daily mortgage tracker showed the average two-year fixed rate had risen to 5.42%, from 4.25% before the start of the war in Iran. It said that would add about £235 a month to repayments on a typical new mortgage.
Average monthly amount spend on a first-time buyer home 
Source: Rightmove
“Some buyers will be feeling cautious due to cost-of-living and mortgage rate increases,” Babcock said. “However, the latest data shows that, at least for now, home-movers are largely showing their usual resilience with their housing needs trumping other events.
“While higher mortgage rates negatively affect affordability, many buyers are also benefiting from rising wages, lower house prices and more flexible borrowing criteria than in recent years, which all help affordability. Rightmove’s whole of market real-time data highlights that while some metrics are understandably slightly down, the overall market currently remains resilient.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
