Property Market Updates: Q1

National view

The UK property market is stepping into spring with renewed energy, as average asking prices rose by 1.1% (+£3,876) to £371,870 this month, according to Rightmove’s latest House Price Index. This seasonal uplift is in line with typical March trends and suggests that sellers are pricing sensibly in a competitive market; in fact, the market is the most competitive we’ve seen in over a decade.

Buyer demand is also gaining traction. While the current wave of spring movers won’t have beaten this month’s stamp duty deadline, they will benefit from the highest number of available properties for sale at this time of year since 2015. The number of sales agreed is now 9% higher than this time last year, reflecting growing confidence among buyers even in the face of global uncertainties.

On the supply side, the market is equally strong, with new seller listings up 8% year-on-year. Regarding annual capital growth, Zoopla reports that semi-detached homes are leading the way, rising 2.6% (or £6,820) to an average of £274,100.

All of this comes together to point to a resilient and active market as we transition into summer, which should be encouraging news for both those looking to sell and those planning their next move. 

Scotland   

Scotland’s property market has entered 2025 with a surge in new listings and signs of building momentum. Rightmove reports that average asking prices have risen by 3.8% month-on-month and 4% year-on-year, now sitting at £197,643. Homes are currently selling at pace, with the average time to find a buyer standing at just 42 days.  

While activity has picked up on the supply side, demand remains more selective, with price rather than location emerging as the key motivator. Properties priced between £150,000 and £300,000 are attracting the strongest interest, as buyers continue to navigate affordability in light of lingering mortgage rate pressures.

Investor sentiment has been dampened somewhat by the recent rise in the Additional Dwelling Supplement (ADS), from 6% to 8%, following the Scottish Budget. As a result, many landlords are taking a more cautious approach, with greater focus on cash flow and cost-efficiency. That said, optimism for the year ahead remains high, with many expecting sales activity to strengthen further as we move into the summer months.

Overall, while the market is currently price-sensitive, Scotland’s solid performance so far in 2025 suggests a more confident and active landscape is taking shape.

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