Bumper Start to 2024 Housing Market reports Rightmove

Bumper Start to 2024 Housing Market reports Rightmove


Todays other news
There are some locations offering incentives to British investor buyers...
The market is strong ahead of the April stamp duty...
The PBSA analysis has been undertaken by Knight Frank...
The analysis has been done by Bond Wolfe...


The number of prospective sellers contacting estate agents to arrange valuations ahead of sale hit an all-time high in January, says Rightmove.

 

The number of people sending a request to an estate agent via the portal was 23 per cent higher last month than the previous record in January 2023.  

Last month’s figure was also 27 per cent up on July 2020 – considered a significant month because it was when the housing market reopened for the first time during the pandemic.  

Rightmove says a critical factor contributing to confidence amongst sellers and buyers is the more stable mortgage market.

Average mortgage rates have continued to slowly trend downwards, and the average five-year mortgage rate is now 4.64 per cent compared to the peak of 6.11 per cent just eight months ago. 

Rightmove adds that at the start of February the number of new properties coming to the market for sale was 13 per cent above the same time last year. 

The portal’s property expert, Tim Bannister, says: “The early data suggests estate agents have had a busy start to 2024, with more market activity than at the start of last year. 

“This activity we’re seeing is likely to be a combination of those movers who have recently decided to make 2024 their year for a new home, and some pent-up demand from those who took a step back last year to consider their options while the outlook for mortgage rates was more unclear. It’s early days but the first month of data is encouraging.” 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
The market is strong ahead of the April stamp duty...
All regions seeing positive growth - but one leads the...
This index looks at an aggregate of the top four...
Prices and sales volumes will grow in 2025 despite the...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
There are some locations offering incentives to British investor buyers...
The market is strong ahead of the April stamp duty...
The PBSA analysis has been undertaken by Knight Frank...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here