Rightmove’s January House Price Index reported a record start to 2015 but indicated that sellers will have to work harder this year.
- Price of property coming to market up 1.4% (+£3,798) in a month where prices usually fall.
- Upwards price pressure as the number of properties coming to market (+2%) fails to replenish agents’ historically low stock levels – currently 10% below same period last year.
- Activity boosted by Stamp Duty savings of up to £1,250 for some first-time buyers – double incentive for early-birds as average property price in this sector is down by £1,132 this month.
In spite of the above and low mortgage and inflation rates, sellers will have to work harder in 2015 than in 2014:
- Election jitters and mortgage restrictions suggest a moderate reduction from the high transaction volumes seen in 2014.
- 2015 will be the ‘Year of the Selective Mover’ – lenders are selecting buyers who are good risks to lend to, and in turn buyers are very selective with the properties they choose.
You can read the full Rightmove report here.
[Source: Rightmove Property Portal]
Want To Sell Your House Fast?
Speak to a member of our team and discuss your options with us today.