Recently listed – VP – Long Lane, Tilehurst – Price Guide £1,595,000 – Full details
Asking Price Growth Slows as Market Balances After Stamp Duty Changes
Following last month’s ‘Reading Property Market Update’ and our article, Looking Beyond the ‘Record‑High’ Price Rise Noise, in which we tried to make sense of the mainstream media’s property price surge headlines. This month, we are seeing a more measured tone coming from the same media outlets.
Rightmove’s May House Price Index reports a new record for asking prices, although the report looks at the country as a whole, it’s rarely reflected here in Tilehurst, where the local landscape is more complex. Particularly as the effects of recent stamp duty changes continue to shape supply, demand, and pricing strategies.
For the fifth consecutive year, May has seen asking prices reach a new high, coinciding with the busiest time of year for the property market. Homes in Tilehurst and the surrounding areas are looking their best, gardens are flourishing, and buyers are typically more active. However, while asking prices have technically risen again this year, the pace of growth is now the slowest for May since 2016. This is an important shift, reflecting wider changes in both local and national dynamics.
High Supply, Modest Growth, and Stamp Duty Impact
According to Rightmove, new seller asking prices are up by 0.6% (+£2,335) this month, reaching another record. But there’s more to the story: the number of available homes for sale across Reading is at its highest in a decade. New listings are 14% ahead of this time last year—a pattern mirrored across the Thames Valley. This abundance of choice means buyers have more leverage, and sellers must be increasingly pragmatic to secure a sale.
The surge in supply is a direct response to the government’s recent changes to stamp duty thresholds, which encouraged many homeowners to list earlier in the year. As a result, the late spring market has become more subdued, with buyer demand dipping and competition among sellers intensifying. This has put a cap on price growth, even as headline numbers suggest otherwise.
Buyer Demand: Some Softening, But Reasons for Confidence
Rightmove’s data shows that new buyer demand slowed in April, down 4% compared to April 2024. This was expected, given the busy start to the year and the increase in available homes. However, demand in the year to date is still 3% ahead of last year, and early signs in late May point to renewed interest.
Despite April’s pause, the number of sales being agreed in the past month is 5% higher than at the same time last year. For Tilehurst, this suggests that while buyers are more selective, realistically priced and well-presented homes are still attracting strong interest and achieving good results.
Interest Rates: Renewed Optimism for Buyers
Looking ahead, the latest cut to the Bank Rate could prove significant for both buyers and sellers. Rightmove’s weekly mortgage tracker reveals that the lowest available two-year fixed mortgage rate is now 3.72%, down from 4.75% last year. This improvement in affordability may encourage more buyers into the market over the coming months.
At Village Properties, your trusted estate agents in Tilehurst and the surrounding areas, we recommend that sellers set realistic price expectations and focus on presentation. Buyers, meanwhile, should take advantage of the wider choice and improving mortgage rates. For local insight and tailored advice, speak to our experienced team. We’re here to help you make the most of the evolving Tilehurst property market.
Recently Listed Homes by Village Properties
Here are just a few of the properties recently listed for sale from our Tilehurst Office –
House for Sale in Reading – Guide Price £1,595,000
House for Sale in Reading – Guide Price £775,000
House for Sale in Reading – Guide Price £450,000
House for Sale in Reading – Offers Over £450,000
House for Sale in Reading – Offers Over £375,000
To see the very latest homes coming to the market, click ‘New to market homes’, this lists all of the very latest homes as they come to the market.
Or see our ‘Recently Sold Properties’.
Moving This Spring?
If you are thinking of buying or selling a home in Tilehurst or the surrounding areas of Reading, please feel free to call me for an informal chat, I’ll be pleased to help you if I can.
You can also book a Face to Face Valuation, or use our Instant Online Valuation tool.
Thank you for reading
Charlie Higgs – Village Properties Tilehurst & Twyford
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