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19 February: Year-On-Year Increase For First Time In Six Months
- February asking prices up 0.9% on January
- Prices up year-on-year for first time in six months
- Average UK asking price now £362,839
Asking prices for homes coming to market in February are 0.9% (or £3,091) higher than in January, according to property portal Rightmove, taking the average to £362,839.
On an annual basis, prices among new sellers are up by 0.1% compared to February 2023. While it’s only a whisker increase, it marks the first time that annual prices have been in positive territory after six consecutive months of falls.
The latest report signals what could be a healthy start to the ‘early bird’ market of 2024 – one in which buyers feel the ‘conditions are right’ for moving, said Rightmove, which lists around 95% of all UK homes for sale.
This positivity is reinforced by a marked increase in the number of homes being sold. The first six weeks of this year saw 16% more homes sold than the same period in 2023, according to Rightmove, and 3% more compared to the pre-Covid market of 2019.
Both the number of homes listed for sale on the property portal and the number of…
