Seller asking prices rise by 1.3% in Jan 2024

The average asking price for new sellers had a significant increase of 1.3% in January, marking the highest price rise since 2020. This growth is more than double the average increase seen over the past 20 years (+0.6%).

With mortgage rates decreasing and a positive economic outlook, buyer demand is on the rise. In fact, 42% of agents have reported higher buyer demand compared to the previous year.

Furthermore, the number of properties entering the market in the first week of this year has increased by 15% compared to last year. This indicates that sellers are growing more confident about the upcoming year.

To ensure a successful move this year, it is crucial to have accurate and realistic pricing that aligns with the local market.

Source: #Dataloft Poll of Subscribers, Rightmove (January 2024)

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