## March Sees Typical Seasonal Increase in Asking Prices

Average asking prices for newly listed UK homes rose by 0.8% in March 2026, climbing £3,023 to £371,042, according to Rightmove. This increase follows a relatively flat February and aligns with the usual seasonal uplift seen at the start of the spring selling season. Despite this rise, the pace of house price growth remains modest and close to the long-term average.

For landlords and letting agents, this suggests a steady market environment where rental demand may remain stable, but significant price jumps are unlikely in the immediate term.

## Record High Property Supply Limits Price Growth

The number of homes available for sale reached an 11-year high in March, offering buyers a wider selection of properties. This increased supply has contributed to a slower rate of price growth, as sellers face greater competition. The average time properties remain on the market has also lengthened, now at its longest since 2013 for this time of year.

Rightmove’s property expert Colleen Babcock commented: “March has brought a typical seasonal lift in prices, and ‘steady rather than strong’ is how I’d describe the start of this year’s spring market. With the number of homes for sale at its highest level for over a decade, buyers have plenty of choice. Many sellers are facing stiff competition and the longest average time to sell at this time of year since 2013.”

For landlords considering selling, this environment means pricing competitively from the outset is crucial. Babcock advises against relying on later price reductions, as buyers are very price sensitive and have many alternatives.

## Sales and New Supply Trends

Data from Rightmove indicates that the number of sales agreed in March 2026 was 2% lower than the same period last year but 5% higher than in 2024. Similarly, new supply entering the market was 3% below last year but 7% higher than in 2024. Buyer demand had already been below last year’s levels before the onset of the Iran conflict and has not declined further since.

This suggests a market showing resilience despite geopolitical uncertainties, which landlords should monitor as it may influence tenant demand and property values.

## Regional Variations in Price Movements

Lower-priced regions are experiencing stronger annual growth in asking prices. The North West recorded a 2.6% increase over the past year, while London saw a 2.1% fall. Properties with zero to two bedrooms have seen asking prices decline by 0.4% annually, whereas mid-market “second-stepper” homes rose by 0.6%. The largest homes at the top end of the market showed no annual change.

Rightmove’s daily mortgage tracker also reported an increase in the average two-year fixed mortgage rate to 4.51%, up from 4.24% a week earlier, which may influence buyer affordability and market activity.

## Industry Perspectives on Market Conditions

Nathan Emerson, CEO of Propertymark, noted: “Consumers are generally in a far stronger position to purchase a property than they were a year ago, mainly due to several successive base rate cuts and falls in the rate of inflation as well. Our member agents have reported an encouraging start to the year, with a sense of resilience when looking at the number of properties being placed for sale and the number of viewings on each available property too.”

Tomer Aboody, director of specialist lender MT Finance, highlighted the importance of affordability: “Plenty of stock, in line with the time of year, is keeping prices in check to an extent, which is good news for those who are keen to move. The north-south divide illustrates how important affordability is when it comes to people’s ability to move house. In the more expensive south, price growth is more muted as buyers face more of a struggle in raising the necessary deposit and demonstrating enough income to satisfy lenders.”

Jeremy Leaf, a north London estate agent and former RICS residential chairman, added: “Despite inevitable worries that the present geopolitical uncertainty will increase upward pressure on inflation and mortgage payments, we have seen no price reductions or withdrawals from agreed sales in our offices other than for property-related reasons. Most buyers are obviously nervous about the impact of the conflict but are adopting a ‘wait-and-see’ stance for now at least. These figures from Rightmove reflect asking prices rather than sales values and determine whether genuine buyers are attracted so may take a little longer to reflect any change in sentiment.”

## What This Means for Landlords and Agents

The current market conditions indicate a balanced environment where landlords may find stable rental demand but should be mindful of the increased supply of properties for sale, which could limit capital growth prospects in the short term. Competitive pricing and realistic expectations will be essential for those looking to sell or let properties during the spring market.

Monitoring regional variations and mortgage rate trends will also be important for landlords and agents to adapt strategies accordingly.

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Suggested internal link anchors

– average asking prices
– property supply levels
– time to sell property
– regional house price trends
– mortgage rates UK
– buyer demand
– property market resilience
– landlord selling strategy
– spring selling season
– property price growth
– affordability challenges
– geopolitical impact on property market

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TLA update

TLA is launching a new Trusted Partners Hub in Q1 2026, featuring verified and approved service providers selected to support landlords, tenants, and property management businesses. We are inviting legal, trades, insurance, financial, mortgage, tenant screening, and other service providers to register their interest here: https://landlordassociation.org.uk/become-a-tla-service-partner/