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Rightmove House Price Index January 2019

Brian Murphy, Head of Lending for Mortgage Advice Bureau comments:

“The monthly Rightmove House Price Index provides us with data drawn from estate agencies across the country at the point of marketing properties for sale, therefore gives us an excellent up-to-date snapshot of the UK housing market in terms of consumer sentiment and activity, rather than historical data using completed transaction figures or values. 

It’s no surprise that today’s report suggests that the Northern regions of the UK appear to have had a brisker start to 2019 than London and the South, as this is a continuation of the disaggregated picture we saw last year.  The market is highly nuanced at the moment, with dynamics between price points as well as overall market activity varying between major conurbations, even within the same region.  That said, it’s positive to see that more stock is coming on to the market, and that vendors apparently have more realistic expectations with regards to their asking price.

As Rightmove indicates that its website’s traffic figures have modestly increased on the same period last year, regardless of the ongoing Brexit-driven headlines, this perhaps highlights that regardless of geo-politics, people both need and want to get on with their lives. The fact that buyers and sellers are, according to Rightmove, active at the moment would suggest that in many areas of the country, the motivations and aspirations to move are still very much in evidence.  Many lenders have started 2019 by offering competitively priced products, which potentially will lend further support to the market in terms of those seeking to borrow to fund their purchase.”

To see the full Rightmove report, please click here

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