March Market Update

March is traditionally a time when we see potential buyers galvanise their plans and sellers request valuations. Was it business as usual, even with distracting global events? We’ve rounded up the facts and figures that tell last month’s story.

No shortage of sellers: when Rightmove analysed March’s live listings, it found the number of homes for sale was at its highest level for 11 years, for this time of year. The healthy supply is doing an excellent job of keeping house price rises in check.

Sellers felt confident

Average asking price increased: Rightmove’s March House Price Index showed sellers were requesting £3,023 more for their homes in March, when compared to April. This is a 0.8% increase but typical for this time of year.

House prices climbed

Monthly & yearly increases: Zoopla’s take on sold house prices revealed uplift almost across the board. On an annual basis, the UK’s average house price has increased 1.3% over the past year, resting at £270,500. On a house type basis, detached and semi-detached homes increased by £1,300 in March, and terraced houses by £800. Flats and maisonettes dropped in value by £100.

North-South divide remained: Zoopla’s regional analysis revealed London and the South East lagged behind on the house price front: each region dropped 0.2% in value. House prices stayed the same in the South West. All other UK regions noted price increases, ranging from 0.6% and 3.5%.

Most affordable local authorities revealed: Nationwide's new affordability report declared Inverclyde in Scotland as the UK’s most affordable local authority. Burnley (North West), Hartlepool (North), Kingston upon Hull (Yorkshire) and Merthyr Tydfil (Wales) completed the top 5 most affordable areas in the UK. It used a ‘house price to earnings’ ratio to reach its conclusion. 

Sales remained brisk: despite more active sellers and increasing asking prices, the volume of sales agreed remained healthy. In fact, the number of sales agreed in March was 5% ahead of 2024. The level was only 2% down on 2025’s peak, which was a result of the stamp duty deadline.

Two weeks to act: the mortgage market was highly changeable in March. The latest Moneyfacts research showed mortgages were typically available for two weeks before they were withdrawn. As such, prospective buyers are advised to lock into deals quickly.

Modest rental value movement 

UK’s average rent stabilised: rents decreased by just £1 between HomeLet’s last two monitoring periods: January and February. The UK’s average rent for newly agreed tenancies is £1,301. This figure contributed to rents that are 2% higher now, compared to this point in 2025.

The South was the star: HomeLet’s monthly snapshot showed rental values varied across the country. The South East experienced the largest rent increase, at 1.2%. Much smaller increases were noted in the South West, the North West, Yorkshire & The Humber, and Scotland. All other regions experienced a decrease in rental values.

Landlords continued to invest

Buy-to-let lending was high: an article published by Property Reporter claimed landlords engaged with a surprisingly high amount of mortgage borrowing in 2025. Buy-to-let lending increased 20% last year, with the final quarter the strongest (with £6.7 billion loaned). This is in contrast to rumours that suggested landlords were exiting the market due to incoming reforms. 

Guarantors gained popularity: the Alto 2026 Agency Trends Report questioned 250 estate and letting agents from across the UK. The results showed 1 in 3 property professionals found landlords are routinely requesting guarantors. The increase is being blamed on rents that keep rising, affordability constraints and the ban of ‘rent in advance’ payments from 1st May 2026.

If you would like to know more about your local property market, please get in touch.