Rightmove House Price Index – February 2016

Rightmove House Price Index – February 2016

Rightmove have released their monthly house price index and the news is split between good and bad.

Demand and Prices at Historic All-Time High as the Year of First Time Buyer Kicks In

  • Price of property coming to market increases by a substantial 2.9% (+£8,324) this month, hitting a new record of £299,287 and surpassing the record set in October 2015 by over £2,700
  • Housing demand higher than ever as Rightmove traffic hits record levels, with visits up nearly 20% year-on-year in January
  • Encouraging 5% uplift in new properties coming to the market compared to same time last year resulting in the highest total number of newly-listed properties at this time of year since the 2008 credit crunch
  • The Year of the First-Time Buyer: Government initiatives and low interest rate outlook now aligning with more property choice for first-time buyers, with 10% year-on-year jump in the number of two beds or fewer coming to market

You can find the full published Rightmove report HERE.

Rightmove

[Source: Rightmove Property Portal]

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About the author

Starting his career in Estate Agency, Jeff quickly moved up the ranks to manage his own office for Halifax Property Services. Co-founding Speed Property Buyers in 2008, he has applied this knowledge and overseen rapid expansion of the business.