If you’re considering selling your home, the good news is that the market momentum that we saw throughout 2021 is already continuing into the first weeks of this year.
According to Rightmove, home-movers have been quick off the mark to get their property valuations booked in. The portal reported its busiest ever Boxing Day for new sellers listing their property for sale and although these people got a head-start, many people have started the year with a new found determination to find their dream home.
The competition among buyers is double what it was in January 2021 with the number of potential buyers enquiring about homes 15% higher.
Sellers in December managed to find a buyer for their property two weeks faster last December, compared to the same period in 2020.
The latest House Price Index from Rightmove show that:
There was a jump of 0.3% in the average price of a property coming to market in January. This is a rise of £852 to £341,019 making it 7.6% higher than in January last year. This is the highest annual rate of price growth recorded by Rightmove since May 2016
The asking prices for first-time buyer properties was a record high of £214,176 following a monthly jump of 1.4%
A lack of supply combined with strong demand caused a frenzy in the housing market at the start of this year. The number of buyer enquiries was 15% higher than the same period last year, the number of available homes per estate agency branch was at a record low of 12, and competition among buyers is currently double what it was in January 2021.
The good news is that there are signs that more properties are coming onto the market this year, easing competition and stablalizing house prices. The number of valuation enquiries in the first week of this year was 44% higher than last year and 48% higher than in 2020.
Clyde Property is a leading independent, multiple award-winning estate and letting agent with more than 30 years’ experience in selling and letting property in Scotland. Just call your local Clyde Property branch today for friendly, impartial advice on finding your next dream home.
