The average price of a house jumped by £852 in January, according to Rightmove
The average house price jumped £852 or 0.3% month-on-month in January, according to a property website.
Across Britain, the average asking price for a home this month is £341,019, Rightmove said.
The rise in average asking prices this month is driven by larger homes at the top of the real estate ladder as well as those typically purchased by first-time buyers, he added.
The average asking price for first-time buyers reached a new record high of £214,176 in January, after a monthly jump of 1.4%.
The number of buyers inquiring about homes is generally 15% higher than a year ago, Rightmove said. But the average stock of available properties per estate agency is at an all-time high of just 12, he added.
However, there are some early signs that a wider choice of properties is on the way, with the number of home appraisal requests in the first working week of 2022 up 44% compared to the same period last year. last.
Tim Bannister, director of real estate data at Rightmove, said: “All signs suggest that prices are likely to continue to rise until more choice becomes available.
“Three regions are most urgently in need of new supply, the East Midlands, South West and South East England, as they are currently experiencing unsustainable annual price growth rates above 10%. “
Roger Wilkinson, managing director of Wilkinson Grant & Co in Exeter, said: “Despite a slowdown in business over the festive period, Covid uncertainty, rising interest rates and an increase in the cost of life, 2022 picked up where 2021 left off – with high levels of buyer demand and not enough available homes to choose from.
“Having seen house price growth in some Devon hotspots of up to 20% over the past 18 months, signals are that prices will continue to rise this coming year, but a new mood of realism from buyers will slow such rampant growth in property prices. ”
Chris Pearson, manager of Pearson Keehan in Hove, said: ‘In the area, Brighton and Hove continue to be as popular as ever, with an influx of buyers moving from London and surrounding areas in search of a change of lifestyle. These numbers continue to rise since working from home became an option.
“Right now, demand is certainly outstripping supply, but we’re optimistic that sellers are slowly returning to the market, as we’ve already seen an increase in property valuation inquiries in January.
“With competitive loans also still available, this bodes well for the number of transactions expected, and we believe it will be another busy year ahead.”