January Jump in Asking Prices
The average new seller asking price rose by 1.3%, the biggest price rise for January since 2020. This is over double the 20-year average of +0.6%.
As mortgage rates fall and the economic outlook brightens, buyer demand is improving, with 42% of agents reporting that buyer demand is higher than a year ago.
The number of properties coming onto the market in the first week of the year was 15% higher than a year ago, indicating sellers' increasing confidence for the year ahead.
Accurate and realistic pricing for the local area remains essential for those looking to get moving this year. Source: #Dataloft Poll of Subscribers, Rightmove (January 2024)