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