This is a jump of £3,500 from the previous month, marking the largest month-on-month increase for over a year and indicating that the market is now experiencing some uplift from the delayed Brexit outcome.
There is some sentiment in the market that buyers and sellers are now fed up with all things Brexit, hence the uptick in market activity following the delay of Brexit which had previously been scheduled for March 29th.
Robert Gardner, an economist with Nationwide, said first-time buyers appeared to be defying the jitters around Britain’s still uncertain departure from the European Union, helped by low interest rates and the lowest unemployment rate in more than 40 years.
“While the ongoing economic uncertainties have clearly been weighing on consumer sentiment, this hasn’t prevented further steady gains in the number of first-time buyers entering the housing market in recent quarters,” he said.
Estate agents often note a ‘spring bounce’ at this time of year thanks to the market entering a period of buoyancy, but the increase seen this year is still the biggest increase for the month of April for three years.
Brian Murphy, Head of Lending for Mortgage Advice Bureau, said: “It's not exactly surprising to see that according to this set of data, the family homes market remains resilient.
“After all, for those who need more room to accommodate growing offspring, or indeed have to relocate due to schooling, the decision to move is rarely a discretionary one.
“Regardless of any ongoing Brexit uncertainty, today's report points to the right time being now for these particular purchasers. This is, of course understandable, as, if you ask most parents, there comes a point when the quality of life becomes the priority, rather than the consideration of political headlines.
“The good news is that in areas of the country where asking prices appear to have remained steady - or as the Rightmove report suggests, vendors are pricing keenly in order to attract a buyer - the competitive lending market continues to provide support.'
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