The lates figures reveal significant positive trends that are sure to capture the attention of both buyers and sellers.
- House Prices Surge in January
In a surprising turn of events, house prices have experienced their most substantial January rise since 2020. This is excellent news for sellers who are eyeing a profitable start to the year.
- Average New Seller Asking Prices on the Rise
Between December and January, the average new seller asking prices have increased by a notable 1.3%, reaching £359,748. This uptick reflects growing confidence in the market and sets a positive tone for the rest of the year.
- Sales Agreed Soar by 20% YoY
Comparing the first week of 2024 to the same period last year, sales agreed have seen a remarkable 20% increase. This surge in activity suggests a heightened eagerness among buyers to secure their dream homes.
- New Properties Flood the Market
The influx of new properties coming onto the market is another encouraging sign. In the first week of 2024, there has been a 15% rise in the number of new properties for sale compared to the same period in 2023. This diversity in options is sure to benefit prospective buyers.
- Buyer Demand on the Upswing
Buyer demand remains robust, with a 5% increase in the first week of 2024. This signals a continuation of the strong market conditions, making it an opportune time for sellers to make their move.
According to Tim Bannister from Rightmove: “There has been some tentatively promising activity in the first week of the year, but accurate and realistic pricing will be the recipe for success for sellers looking to get moving in 2024.” This emphasises the importance of strategic pricing for sellers to capitalize on the positive momentum in the market.
As we navigate through the early months of 2024, the Henshaw Fox team encourages both buyers and sellers to stay informed and make the most of the current favourable conditions in the UK housing market.
If you’re considering a move in 2024, Get in touch.
Call our dedicated team at Henshaw Fox and schedule your free home appraisal today.
Find out more: https://henshawfox.co.uk/sell/
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