January Asking Prices Up By 1.3%

As your trusted estate agent in Sittingbourne and North Kent, we have our finger on the pulse when it comes to UK houses prices and property market changes.

A wave of optimism swept across the housing market ahead of tomorrow’s Bank of England interest rate decision after Nationwide reported UK house prices rose 0.7% in January.

Alongside this positive news from Nationwide, our property market analysts at Dataloft reported that average new seller asking price rose by 1.3%, the biggest price rise for January since 2020. This is over double the 20-year average of +0.6%. 

As mortgage rates fall and the economic outlook brightens, buyer demand is improving, with 42% of agents reporting that buyer demand is higher than a year ago.

The number of properties coming onto the market in the first week of the year was 15% higher than a year ago, indicating sellers' increasing confidence for the year ahead.

Accurate and realistic pricing for the local area remains essential for those looking to get moving this year.

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For free, no-obligation advice on buying or selling a home in Kent, please contact our expert property team at Quealy & Co. We look forward to assisting you.

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Call us 01795 429836 or email hello@quealy.co.uk to chat with a member of our friendly and experienced team about anything to do with moving home. 

Source: #Dataloft Poll of Subscribers, Rightmove (January 2024), Nationwide.