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.
[Source: Rightmove Property Portal]