After a couple of months of uncertainty, estate agents are now reporting that the higher levels of enquiries and viewings experienced in January and February are slowly converting into more concrete offers and agreed sales. Search activity on Rightmove broke previous records in three out of the four weeks of February.
While nationally new sellers average asking prices increased by just 0.3% (£711), they were again outperformed by the confidence of the capital’s sellers who pushed theirs up by 1.1% (£4,470).
Average asking prices in Wales went against the UK national trend by dropping by -0.5% in Rightmove’s House Price Index for January, as the national average saw a slight increase of 0.3%. However the big cities of Cardiff and Swansea did see a rise, by 2.4% and 6.9% respectively.
Rightmove’s House Price Index for January found that 2011 began with the first increase in new sellers’ average asking prices for three months, an increase of 0.3% (£711) following substantial falls amounting to 6.2% during November and December.
The latest Rightmove Consumer Confidence Survey finds that the proportion of people in Greater London expecting prices to be higher one year from now has dropped from 53% to 43% since last quarter.
The House Price Index is the largest, most up-to-date monthly sample of residential property asking prices.
An early indication of where prices are headed in the second half of 2010 was presented this month with new sellers dropping their asking prices for the first time this year, down by 0.6% (£1,435).