Property market

Rightmove’s August 2023 House Price Index

Published September 26 2023
1 minute read
Every month property website Rightmove collates the largest sample of up-to-date residential property prices and housing market activity acting as a reliable indicator of current and future trends in the housing market.

During August 2023, the average asking price of newly marketed properties in Wales increased by +1.1% to £259,898 vs a national increase of just +0.4%.

There was subdued activity across the market due to combination of interest rate rises and buyer and seller summer holiday distractions which led to a high level of price reductions, where 36.3% of properties currently for sale have had a reduction.

As we enter a traditionally key selling season in the run up to Christmas, many people who have been considering selling are now taking action and coming to market. There are positive signs of activity starting to pick up, with the number of new properties coming to market jumping by 12% in the first week of September when compared with the average weekly number throughout August.

Full August House Price Index