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Property market sees surge in buyer and seller activity

Estate agents haart have reported that average UK property prices increased 5.6% annually and 0.9% in March to £206,726 – the highest on record. The firm added that UK new buyer demand surged 22% last month as election uncertainty failed to dampen demand.

Paul Smith, CEO at haart, which has a network of over 200 branches, commented: “Our advice to both buyers and sellers has been to enter the property market before heading to the ballot box in May, if they are considering doing so this year. History tells us property prices tend to take a swing upward after a general election and even for those current homeowners upsizing, the increase in price on their new home will be greater than any gains made through sitting tight in their current property.

“Our latest data indicates that prospective buyers and sellers have put their ducks in a row and are entering the market in high levels this spring – undeterred by the whispers of market uncertainty. This in turn has driven up UK property prices by almost 1% in a single month and 5.6% annually. London house price growth has slowed but on average prices are still up on an annual basis in March, driven by unrelenting high demand – 19 buyers are still registered for each new property for sale in the Capital.”

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