- Rightmove data shows asking prices up in April, with buyer interest holding firm post-stamp-duty changes
Shares in UK housebuilders saw modest gains on Tuesday after Citi highlighted fresh signs of resilience in the housing market ahead of upcoming trading updates from the sector.
The latest data from Rightmove showed asking prices rose 1.4% month-on-month and 1.3% year-on-year in April, with a notable rebound in the South East and South West - areas that had lagged in recent months.
Scotland, Wales and the Midlands continued to show solid growth.
Citi pointed to encouraging trends beneath the headline figures. Buyer demand was up around 5% on the year, and new sellers entering the market rose by 4%.
While agreed sales have dipped slightly since the end of the stamp duty concession, the fall-through rate has remained steady, suggesting that buyers are adjusting to the new thresholds and continuing with purchases.
The bank said upcoming trading updates from the major housebuilders should offer a clearer view on how demand is holding up in the face of higher transaction costs.
For now, the steady pace of activity and rising asking prices offer some reassurance that the market is finding its footing.
Barratt Redrow PLC (LSE:BTRW), a sector bellwether, was up 1.4%.