Asking prices for homes up by £4,500 in just one month

HOMEOWNERS putting their places on the market are asking a typical £4,571 more than December, estate agent Rightmove has revealed.

- Vicky Shaw

The 1.3% increase takes the average cost of a house to £359,748 though this is still 0.7% lower than a year previously.

The property portal's research also found the volume of homes newly going up for sale is 15% higher than 12 months ago.

Competitive pricing from sellers is still vital with the number of options becoming available outpacing an increase that is also being seen in buyer demand.

The number of potential buyers contacting estate agents about homes for sale in the first week of 2024 was 5% higher than in the same period in 2023.

Growth in activity is strongest in London and the North-East of England, Rightmove said.

It added that the number of sales being agreed as January gets underway has been higher than the start of last year.

Tim Bannister, Rightmove's director of property science, said: "After a stop-start market in 2023, the initial signs suggest a smoother year for movers in 2024.