Many home-movers have already been putting their 2023 moving plans into action, with average asking prices seeing the biggest New Year bounce in three years, according to the latest monthly House Price Index from Rightmove, which focuses on asking prices in England, Scotland and Wales.

This firm reported on 17 January that the average asking price in those countries in January has increased by 0.9%, to £362,438, compared to December 2022. The price growth follows an uncertain final few months in the housing market in 2022, and two months of price falls in November and December. But average prices are still 2% lower (£8,720) than they were at their record peak in October last year.  

Asking prices usually increase in January, after the traditionally quiet home-moving period leading up to, and during the Christmas period. But this year’s price boost has been the biggest at this time of year since 2020. And it seems many homebuyers and sellers are ready to make their move. The 5th of January was the third busiest day ever for people asking estate agents to value their home, and in the last two weeks, there’s been a 55% jump in the number of people contacting estate agents about homes listed on Rightmove, compared to the two weeks before.  

Tim Bannister at Rightmove says: “Given that the pause for Christmas came unexpectedly early last year, it was important to see whether buyers and sellers would pick up their plans again at the beginning of this year or wait to see what the first few months might bring. The numbers certainly suggest that activity has bounced back after Christmas.”