The figures come from Nationwide Building Society, which is based in Swindon.
The building society reported a three per cent annual rise in average house prices for April—up from 2.2 per cent in March—with the typical UK home now priced at £278,880.
Dan Hill, research analyst at Savills, said: “Much of this data reflects buyers and homeowners acting with urgency to secure a lower rate.”
The rise comes amid a broader uptick in housing market activity.
The Bank of England recorded 63,531 mortgage approvals for house purchases in March, the highest monthly figure since November 2025 and above the six-month average of 63,200.
Remortgaging approvals also jumped to 51,300 in March, up from 41,200 in February.
The growth appears driven by buyers rushing to lock in more favourable mortgage rates before further potential increases.
Sarah Coles, head of personal finance at AJ Bell, said: “Homebuyers snapped up mortgages in March in an effort to pick up affordable deals before they disappeared.
“It meant the highest number of approvals for new purchases in four months.”
Industry experts suggest the data signals ongoing resilience in the housing market despite economic headwinds.
Karim Haji, global and UK head of financial services at KPMG, said: “The uptick in approvals for house purchases and remortgaging is surprising given the surge in rates during March.
“This may point to some resilience in the market, but overall affordability remains under pressure.”
Jason Tebb, president of OnTheMarket, said: “Our own property sentiment index suggests resilience and optimism among buyers and sellers.
“Even against a backdrop of ongoing political and economic turbulence, attitudes towards affordability, property values and moving home remain remarkably consistent.”
The Bank of England report also highlighted broader trends in household finances, with consumer credit growing at an annual rate of 8.9 per cent in March.
Credit card borrowing alone rose by 12.3 per cent year-on-year.
Meanwhile, household deposits with banks and building societies increased by £5.5 billion in March, though this was slightly below the £6.2 billion recorded in February.
This was partly driven by £4.4 billion of deposits into ISAs ahead of the tax year-end.
Ms Coles said: “Cash ISAs dominated savings as the end of the tax year approached and savers looked ahead to the reduction of the annual allowance from next April.
“With inflation looming, it’s vital to consider the role that cash plays in your life.
“While it’s likely the right home for money over the next five years, for any cash that you don’t expect to need for longer, investing could well be the best course of action.”
