A new month, a new year and the property market seems to be off to a fast start with the UK's biggest property portal having their busiest January ever. A look at the numbers from Nationwide and Zoopla.
Last year ended with strong gains. Depending on whose index you prefer, values are up between 6% and 7.5% for the year. Supply is likely to be a restraining factor, with new listings down by 12%, potentially pushing prices still higher.
Rightmove report their fastest ever start to a new year, with activity on their website up 30% on a year ago. However, with the stamp duty holiday due to end on 31st March, it is unlikely that those looking now will benefit unless the Chancellor has a change of heart in his spring budget.
The numbers for January -
The big picture - Nationwide
January saw the annual rate of house price growth slow modestly to 6.4%, from 7.3% in December. House prices fell by 0.3% month-on-month, after taking account of seasonal effects – the first monthly decline since June.
City-by city - Zoopla/Hometrack
Biggest movers -
House price growth is at a decade high across three regions – North East, North West, Yorkshire and the Humber – in fact growth is running at the highest since before the global financial crisis.