Not all doom and gloom – Rightmove visits up 5%Make Text Bigger
Rightmove have reported a small increase of 0.4% in the price of properties coming onto the market in January 2019 compared to a 1.4% drop in December. There was also a significant 5% rise in the number of searches for property on the website this month so far with an average of around 4.5m visits per day.
The current average national asking price for a property is now £298,734
Rightmove Housing market analyst Miles Shipside said: “With Rightmove visits up by 5% on 2018 and at record levels for this time of year, it is encouraging that potential home movers are still searching in vast numbers
“As we move from the old year into the new, the headline summary is that the Christmas slowdown came early and the hangover lasted a few days longer into the New Year than usual.
“Agents report that activity is now picking up, though when you dig underneath the national averages, the first snapshot of 2019 shows a somewhat patchy and variable picture depending on where you are in the country.
“Broadly speaking, buyer affordability and sentiment are in more positive territory in the north than in the south, but wherever you are looking to buy, mortgage rates are still at historically very cheap levels and lenders are competing hard to lend.
“In 2018 the number of sales agreed by estate agents was down by only 3% on 2017, an indicator of resilience and holding up much better than many had forecast.”
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