Market thaws as new seller numbers jump 22% and Rightmove traffic swells
LONDON, January 21, 2013
LONDON, January 21, 2013 /PRNewswire/ --
Rightmove's January House Price Index reports that sellers coming to market
this month increased their average asking prices by 0.2% (+£440) to now stand
at £229,429. With new seller prices up by 2.4% (+£5,369) year-on-year, more
sellers coming to market, and a new year jump in Rightmove traffic, early
indicators offer reasons to be confident that both prices and transaction
numbers will see a modest rise in 2013.
Miles Shipside, director and housing market analyst at Rightmove comments:
"Those coming to market this month have taken a pragmatic pricing approach and
kept their asking prices pretty much the same as sellers in December, up by
just 0.2%. Sensible pricing will help buyer affordability, one of the factors
needed to help warm up the market and encourage a recovery from the
credit-crunch freeze in transaction volumes. The thaw will also be helped by
growing confidence that prices are more likely to go up than down. There is an
increasing body of evidence suggesting genuine 'green shoots' of recovery
after a prolonged period of the housing market bumping along the bottom."
The jump in the number of sellers coming to the market this month is a clear
indication of improving confidence. The weekly run-rate of new property
listings is 11,153 this month, up 22% on the 9,108 recorded over the same
period a year ago. While still down 37% on five years ago, before the full
impact of the credit-crunch, this is the highest level recorded at the
beginning of a new year since 2008. Rightmove's traffic in the first two weeks
of 2013 was also up by 27% compared to the same period a year ago. Rightmove
also finds that seven in ten of those looking to sell in 2013 are motivated by
discretionary factors rather than forced sale drivers such as the 'three Ds'
of death, debt and divorce.
Shipside observes: "While the number of sellers financially fit enough to come
to market is still well down on pre-credit- crunch levels, there appears to be
an increased willingness among those that can to 'give it a go'. With
Rightmove breaking traffic records, the chances of selling are on the up for
sellers whose properties match the price, location and finish requirements of
the greater numbers who are searching for a property to buy."
For further statistics and historical data please visit -
http://www.rightmove.co.uk/news/house-price-index or search for local house
Contact details: Rightmove Press Office, email@example.com ,
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