Rightmove's April House Price Index

Rightmove's April 2015 House Price Index has been published.

April's HPI was up by 1.6% over the month, with the average property now costing £286,133, a 4.7% increase from this time last year.

• Highest ever average asking price, now £286,133.
• Shortage of supply to meet record spring search activity on Rightmove.
• New seller numbers down 4% so far in 2015 compared to 2014.
• Searches in March up almost 20% year-on-year to 115 million.

Right move director, Miles Shipside, commented: 

“Record high housing demand and an under-supply of homes have delivered a new all-time high in the price of property coming to market in the month before the election. The high cost of housing is a big concern for many home-hunters, so the contents of the respective party manifestos and well thought-out sustainable solutions to the lack of affordable housing supply will be high on many voters’ agendas too. While the annual rate of price increases may be dropping back, down from 5.4% last month to 4.7% this month, it’s of little comfort to buyers as even more modest increases stretch buyers’ finances into new territory with prices at record average highs. Furthermore, the rapid fall in general inflation means that the inflation-adjusted rate of house price growth remains high.”
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