January 2015

[hpi-table this_month=”Jan” this_months_change=”+1.4″ this_month_yearly_change=”+8.2″ this_month_ave_price=”273,275″ last_month=”Dec” last_months_change=”-2.2″ last_month_yearly_change=”+7.0″ last_month_ave_price=”269,477″]

Highest ever Rightmove page views on Sunday 11th January and site visits to date up over 10% on last year, setting a bullish early tone

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