Rightmove House Price Index shows that asking prices were up 0.8%

The latest Rightmove House Price Index shows that asking prices in January were up 0.8% month to month, down from the huge 2.3% bump seen following the election but enough to push prices close to an all-time high.  

Sales were also up 12.3% nationally and 26.4% in the capital.

Marc von Grundherr, director of letting and sale agent, Benham and Reeves, commented:

“It was always unlikely that price growth would keep pace with the immediate acceleration brought on by returning market certainty following December’s election, however, while the tidal wave of buyer demand has dissipated somewhat, a strong and consistent stream remains despite the traditional seasonalities.

In a normal market, transacting is often the last thing on the minds of both buyers and sellers during the long month of January, so the very fact that prices continue to edge up and sale levels remain strong is a very positive sign for the year ahead.

Should this market momentum persist it won’t be long before record asking prices are hit and whilst this is a great indicator of returning market health, it won’t be welcomed by aspirational buyers who are already struggling with issues of affordability as it is. ”

For more information visit Benham and Reeve website.