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
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.