Rightmove Reports Highest Ever January House Price Rise

New figures released by Rightmove indicate that house prices have started the year on a notably positive footing, with the property portal reporting the largest January increase in asking prices seen in the past ten years.

According to Rightmove’s latest House Price Index, the traditional Boxing Day bounce, combined with renewed confidence following recent economic uncertainty, led to a 2.8% rise in average asking prices between December and January. This uplift represents an increase of almost £10,000, taking the national average asking price to £368,031.

Alongside rising prices, Rightmove reports that the number of homes available for sale is at its highest January level since 2014. Increased supply is welcome news for sellers and buyers, offering more choice and stimulating activity  in the property market.

However, is is important to emphasise the significance of accurate pricing. We would agree with Rightmove’s own experts, who highlighted that properties launched at unrealistic asking prices can take longer to sell and may ultimately achieve less than if they had been priced correctly from the outset.

Welcome news for home sellers, the rising prices are encouraging and those who listen closely to expert advice on pricing are best placed to take advantage of the current conditions. When a property is priced correctly, it can also add to the competition, with more buyers making offers.

As ever, local knowledge, careful positioning and an understanding of buyer behaviour will make the difference between simply listing a property and achieving a strong, timely result.

If you’d like to discuss what the current market means for your next move, our teams are always happy to share insight tailored to your area and circumstances. Feel free to contact your local branch or book an expert valuation, here.

Source:

Rightmove House Price Index

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