Rightmove reports a homebuyer bounce

The housing market is springing into life, new Rightmove data has revealed.

January 20, 2020

Homebuyer enquiries rose by 12% immediately after the election, between December and January, compared to a year ago, signalling a return of optimism to the property market, Rightmove has claimed.

This then led to a 7.1% increase in the number of sales agreed over the same period.

The property website has also reported a 2.3% surge in the price of property being listed for sale, the largest monthly rise they have ever recorded at this time of year.

The previous highest January rise was the 2.2% recorded in January 2015. This has helped to push the annual rate of increase to 2.7%, the highest level since July 2017.

Rightmove’s property expert Miles Shipside said: “These statistics seem to indicate that many buyers and sellers feel that the election result gives a window of stability.”

The property website puts the surge down to a release in pent-up demand, suggesting we could be in store for an active spring housing market.

Are you thinking of buying and selling this year? Check out our step by step guides to buying and selling a home so you don’t miss a move.