The price of newly listed homes rose by 0.5% in January after falling for three consecutive months, Rightmove’s House Price Index has revealed.
In the first week in February, Rightmove saw visits rise by 45% year-on-year, with house hunters sending 18% more enquiries.
Marc von Grundherr, director at Benham and Reeves, said: “Many have been quick to jump on a consistent decline in asking prices in previous months as signs of the market running short on steam. However, even with the boost of a stamp duty holiday, the market is susceptible to the usual seasonal trends and so slower market conditions over the Christmas period and into January are certainly nothing new.”
However, the Rightmove Index revealed that 20% of buyers who agreed a purchase price in July last year have still not completed more than six months later.