Rightmove Price Index - What It Means For Sussex Sellers This March
What’s really happening in the property market this Spring? Prices have nudged up this month, but supply is at an 11-year high. Buyers have choice, which means pricing and strategy matter more than ever.
The Spring Property Market Has Arrived… But It’s A Competitive One
The latest Rightmove House Price Index gives a useful snapshot of how the property market is starting to behave as we move into the spring selling season.
The headline figure is that the average asking price of newly listed homes across the UK has risen by 0.8% in March, taking the national average to £371,042.
That kind of increase is actually fairly typical for this time of year. Spring normally brings a lift in activity as more sellers come to market and buyers who paused over winter start making decisions again.
More Homes For Sale Means More Competition
There are currently more homes available for sale than at any point for this time of year in the last eleven years.
Buyers today have far more choice than they did during the market surge of 2021 and early 2022. When buyers have options, they naturally become more selective and more price sensitive.
The result is a market that feels steady rather than fast moving.
For sellers, it reinforces something we talk about regularly with clients. Getting the pricing right from the start is critical. When a property launches too high and then needs reductions later, it can lose momentum quickly.
Despite global uncertainty and some noise around mortgage rates, activity in the market has remained surprisingly stable. The number of sales being agreed is currently only 2% behind the strong market we saw at this time last year, and actually 5% ahead of the levels seen in 2024.
Life events such as upsizing, downsizing, job moves and family changes continue regardless of what the headlines say.
A Market That Is Increasingly Price Sensitive
One clear trend across the market right now is affordability.
First-time buyer homes have actually seen a small annual fall in asking prices of around 0.4%, while larger family homes have remained broadly flat. That suggests buyers are being careful with budgets and stretching less than they might have done a few years ago. It also highlights how different parts of the market can behave differently. National averages rarely tell the full story.
What This Means For Sellers In Sussex
While national reports are useful, the reality is that local markets move differently.
Across Sussex we are seeing a similar pattern to the national picture:
• Buyers are active
• Well-priced homes attract strong interest
• Overpriced homes tend to sit for longer
The key difference compared with a few years ago is simply choice. Buyers now have options, which means accurate pricing and good marketing are more important than ever.
Thinking Of Moving This Year?
Spring is traditionally the busiest time of the year for property. If you are considering selling, it is a good time to understand where your home sits in the current market.
If you'd like an up-to-date view on pricing, buyer demand or the best way to launch your home, feel free to get in touch, we would love to know your plans.
