Few fundamental indexes form confidence within the housing market like house price.  Since February the asking prices for houses have spiked in a positive direction.  The average house price now sits at almost 240,000 pounds, due to a 1.7% increase which took place from February to March of this year, according to Rightmove.  A recent survey completed by the firm revealed almost a quarter of all respondents feel prices will increase over the course of a year.

Additionally, houses are staying on the market now shorter amounts of time.  At this time last year, 90 days was the average amount of selling time a house required to be picked from the market.  Now, that figure is down to 80.

Miles Shipside of Rightmove, commented on what he believes is the true roadblock to more growth within the UK housing market, saying: “In today’s turbulent world where economic crises seem more likely to re-appear than disappear, any market upturn will take longer to build home mover confidence to the point that it starts to feed through to actual transactions. Even those who truly believe that the market has turned a corner may be unable to do anything about it due to lenders’ cautious risk profiling, a significant factor limiting the speed and strength of the recovery.”

Shipside continued: “However, with new sellers’ expectation among home movers of price stability or growth, there is now a bedrock upon which confidence and momentum appear to be building.”

Several of the prime indicators for growth have now emerged causing reason to be encouraged for the months ahead.