Rightmove’s latest house price index report reflects a positive start to 2023! Following a fantastic increase in activity to welcome the new year, agents are encouraged that 2023 is looking better than anticipated so far, with the largest ‘post-Christmas’ bounce back since 2016. Rightmove enquiries are up 55% compared to the weeks leading up to the festivities.
Despite buyer demand being down compared to last year’s especially buoyant market, it is up 4% when compared to that of 2019 – which estate agents would argue was the last year we saw a ‘normal’ market.
There has been a surge of valuation requests via Rightmove so far this month, with January the 5th taking the third largest number of requests on record.
Rightmove’s Director of Property Science, Tim Bannister, has quoted “January from December is particularly encouraging” with “familiar trends and a calmer more measured market” reassuring movers after a challenging few months at the end of last year. He states “Listening to your estate agent’s advice about your hyper-local market and pricing right the first time can avoid a stale sale and the need for even greater reductions later”
The next House price Index from Rightmove, due 20th February 2023, should shed further light on any trends which may come to light in the coming weeks; hopefully providing further reassurance 2023 will hold a stable property sales market.