House Price Index

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Prices up by 3.3% despite 18% jump in new seller numbers

  % Change in month% Change Past YearAve house price
Feb HPI+3.3%+6.9%£251,964
Jan HPI+1.0%+6.3%£243,861

Key points

• New sellers ramp up average asking prices by 3.3% (+£8,103) this month

• Average property coming to market now priced at £251,964, 6.9% (+£16,223) more than a year ago which is the highest annual rate for over six years

• New listing numbers jump by 18% this month compared to a year ago, but the supply shortage continues as they fail to keep pace with numbers coming off the market

• Buyers with a property ‘yet-to-sell’ are the losers as the market heats up, with agents reporting buyers able to ‘proceed-with-speed’ winning the property battle

• Market momentum continues to build with all of Rightmove’s ten busiest ever days being in January this year, breaking 50 million pages in a day for the first time

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House Price Index