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Investing.com -- The average cost of property listed for sale in the UK saw a rise in March, in line with historical trends, despite facing the highest competition to sell in a decade, according to data released by the UK property website, Rightmove (OTC:RTMVY).
This increase comes ahead of a looming tax hike, leading to a surge in both buyer demand and property supply.
The average price of property coming to the market for sale climbed to 371,870 pounds (approximately $481,608), indicating a 1.1% or 3,876 pounds increase on average. This rise aligns with the typical increase seen in March over the long term.
The data also revealed a 9% increase in the number of sales agreed compared to the same period in 2024, suggesting a sustained market activity despite the upcoming increase in stamp duty. This tax, paid by buyers, is set to rise from April 1 for many purchasers.
Additionally, the number of new sellers entering the market was 8% higher than the previous year.
Rightmove’s data underscores the resilience of the UK property market amid changing tax landscapes and high competition among sellers.
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