Property Prices Rise at Fastest Rate on Record

Rightmove has reported property price increases from December 19 to January 20 of 2.3%; representing the largest-ever increase in prices over a 4-week period since it began its asking price index almost two decades ago. With the property market starting the year in such good health, 2020 is poised to be a strong year all round for housing.
In the 4 weeks from 8th December to 11th January, asking prices increased by over 2%, with the general election result having a strong positive effect on the market, thanks to the certainty of a majority government.
It is not just vendors who have returned to the market, with Rightmove also recording a 15% jump in enquiries over the same period, when compared to January 2019.
Miles Shipside, Rightmove director and housing market analyst, comments: “The housing market dislikes uncertainty, and the unsettled political outlook over the last three and a half years since the EU referendum caused some potential home-movers to hesitate. There now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market.”
He continues: “The early birds are on it, with over 1.3m buyer enquiries to agents since the election, up 15 per cent on the same period a year ago. Some buyers are even further ahead and have snapped up a property already.”

Latest Posts

Tips To Save You Cash When Saving For A Home

If you’re saving up for a home move and you’re starting to see mentions of the C-word (Christmas) everywhere, it...

How To Continue To Enjoy Outdoor Dining In Autumn

Having spent three lockdowns at home, many of us embraced the great outdoors. Spending time in the garden though brings...

5 Ways To Make Your Home More Hygge This Autumn

You may well have heard the term ‘hygge‘. If you haven’t it is a Danish concept which cannot be translated...