UK house prices start the year 'with a bang', says Rightmove
By Michele Maatouk
Date: Monday 20 Jan 2025
(Sharecast News) - The average price of a property coming to market in January rose by 1.7% to £366,189 - the largest increase in prices at the start of the year since 2020, according to Rightmove.
A record number of early-bird new sellers came to market since Boxing Day, the property portal said.
This meant that buyers had the highest level of choice at the start of a year since 2015, which has also contributed to an encouraging start to 2025 buyer activity.
The number of new properties coming to market was up 11% on the same start-of-the-year period last year.
The number of buyers contacting agents about properties for sale since Boxing Day was 9% higher, and the number of sales being agreed over the same period was up 11%
Nevertheless, new seller asking prices are still nearly £9,000 lower than May 2024's record, reflecting buyer affordability constraints.
Colleen Babcock, property expert at Rightmove, said: "New sellers have started the year with a bang, with a record number coming to market not only on Boxing Day itself, but across the start of the year to date. We've also seen a strong start to the year in new seller asking prices, though given the higher-than-anticipated seller competition, we would expect this to slow down over the next few months. The record number of sellers we're seeing is a double-edged sword.
"It's encouraging to see so many sellers with the confidence to come to market, providing buyers with fresh choice. However, with lots of homes for buyers to consider, sellers will need to work even harder to stand out from the crowd and attract a buyer. This could be with a tempting asking price, standout home features, immaculate presentation of the home, or a combination of all of these. It's vital that in a competitive market, sellers take on the recommendations of their agent, particularly when it comes to setting a realistic price."
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