Property News | Buyer Demand & House Prices Hits Record High In ‘New Year Bounce’

Buyer demand is on the rise!

According to Rightmove, the number of prospective buyers contacting agents is up 4% from the same time period in 2019 and up 55% from the two weeks prior to Christmas, marking the greatest New Year’s bounce since 2016.

Great news for sellers

An early sign of optimism for the upcoming year is the fact that prospective sellers are acting quickly, with January 5th ranking as the third busiest day ever for people requesting agents to value their homes, says Rightmove.

It comes as the most recent House Price Index from Rightmove showed that following two months of declines, the average price of properties that entered the market for sale at the beginning of January increased by 0.9% on a monthly basis to £362,438 – up 6.3% annually. Making it the greatest increase for this time of year since January 2020.


What the experts say:

“The seasonal increase in new seller asking prices this January from December is particularly encouraging for movers who are looking for the reassurance of familiar trends and a calmer, more measured market after the rapidly changing and at times chaotic economic climate of the final few months of last year.”

“It will be important for the vast majority of sellers to remember that a drop in your asking price is likely not an actual loss compared with what you paid for it, only a failure to live up to aspirations. Listening to your estate agent’s advice about your hyper-local market and pricing right the first time can avoid a stale sale and the need for even greater reductions later.”

Tim Bannister Rightmove’s Director of Property Science

Thinking about selling? Miller Metcalfe have 18 hubs across the North West. Our property experts are always on hand to assist you with any of your property needs. Contact us today. Visit https://millermetcalfe.co.uk/contact-us/ to find your local branch.

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