UK House Prices Surprise with January Rise

The housing market is showing signs of a “new year bounce” in activity, with new sellers increasing asking prices by an average of nearly £4,000 in January, property search website Rightmove has reported.

The price of property coming on the market increased by 1.4% or £3,798 compared with December – despite January usually being a month when asking prices fall, the website said.

Across England and Wales, the average asking price for a property put on the market this month is £273,275, which is 8.2% higher than a year ago.

Rightmove said that while it is still early days, “there are signs of a new year bounce-back”, with visits to the website this year so far running at 10% higher than a year ago.

Meanwhile, people looking to take their first step on the property ladder have the opportunity to grab a cheaper deal this month, the website’s findings suggest. Sellers of typical first-time buyer homes are asking for around £1,132 less than they were in December.

The average asking price on a first-time buyer property is now £163,251, although this is still a significant 10.5% increase on a year ago.

via The Guardian

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza