Continued real estate prices in the United Kingdom continued to rise in March, with the average price exceeding 371,000 pounds, marking a 1.1% increase on a month-over-month basis, according to Rightmove data.

The market is currently seeing 74,000 property transactions, including 25,000 first-time buyers who will not be able to complete their transactions before the stamp duty suspension period ends, forcing them to finalize their purchases in April, incurring 142 million pounds in additional taxes—a move that could signal a market slowdown.

According to CNBC, the housing market in the United Kingdom has begun to lose some of its momentum, as the stamp duty exemption period for first-time buyers nears its end. Rising cost-of-living pressures are also affecting demand for homes, amid renewed concerns about inflationary pressures and economic uncertainty.

In this context, 575,000 homes are currently in the legal transfer process between sellers and buyers, and these transactions account for a significant portion of the 1.15 million transactions expected in 2025.

The market is facing increasing pressure due to high mortgage costs, particularly as the Bank of England maintains interest rates at elevated levels, which exacerbates challenges for buyers and affects the dynamics of the real estate market.