Rightmove published its monthly house price index today and it makes for very welcome reading indeed.
The January numbers show that asking prices rose by 2.3% month on month, the highest January rise since the index began in 2002. And what’s more, this is translating to deals…
The index also states that rather than this just being seller optimism with little effect on transactions, buyer enquiries to estate agents are up 15% compared to January 2019 and actual sales up 7%. This, against a backdrop of far lower sales volumes in 2019 compared to ‘normal’.
Is the property market back with a vengeance now that the political paralysis of the past year in behind us? And will the certainty of Brexit now actually fuel the property market upwards despite forecasts by George Osborne and others that prices would ‘tank’ in the aftermath of the EU Referendum?
There is also the likelihood of a Bank of England base rate cut very soon and this will mean lower mortgage costs – also fuel for higher house prices.
Buyers and sellers that have sat on the fence ‘waiting for something to happen’ need wait no longer…
I spoke to Julia Hartley-Brewer on TALKRadio today to give my opinion and analysis.