Average Increase of 0.9% in January
According to Rightmove, the property listings site, house prices have lifted in January. The biggest New Year increase since 2020. This is despite prospective buyers falling by a third compared to this time last year.
Traditionally there is a general lull in house buying between December and March. And with snow and subzero temperatures forecast for this week. It's only the most committed buyers that will brave the Beast From The East.
With mortgage interest rates continuing to fall, it's more good news for all buyers. But in particular the first timers.
There are more properties coming onto the market. And those that are priced to sell, will sell. It's important to recognise that with fewer buyers around, your house may not sell as quickly as in the busier months of last year.
If you're not in a hurry to sell then all the indicators are that the housing market remains fit and healthy. If you have presented your home to the best you can. And the price is right, then it will sell and your buyer is just around the corner.
The early bird sellers who are already on the market are likely to reap the benefits. Of the bounce in buyer activity. But it's worth remembering that if you do decide to drop your asking price, it doesn't mean you have lost money.
It means that the house price didn't live up to your aspirations. So pricing right in the first place will get your house sold. In the timeframe you need and allow you to move on.
Make sure you are taking advice from your knowledgeable valuer. And work together to get you where you want to be.
