Rightmove HPI February

The Rightmove House Price Index  February 2016

Prices and demand at all – time highs as Year of the First-Time Buyer kicks in.

Price of property coming to market increases by a substantial 2.9% (+£8,324) this month, hitting a new record of £299,287 and surpassing the record set in October 2015 by over £2,700

Housing demand higher than ever as Rightmove traffic hits record levels, with visits up nearly 20% year-on-year in January

Encouraging 5% uplift in new properties coming to the market compared to same time last year resulting in the highest total number of newly-listed properties at this time of year since the 2008 credit crunch

The Year of the First-Time Buyer: Government initiatives and low interest rate outlook now aligning with more property choice for first-time buyers, with 10% year-on-year jump in the number of two beds or fewer coming to market

Miles Shipside, Rightmove director and housing market analyst comments: “The new year’s market has hit the ground running in many locations, continuing last year’s momentum and resulting in the price of property coming to the market hitting a new high. Many agents reported high numbers of sales in November and December and properties selling more quickly, so it’s encouraging to see signs of replenishment of property, especially in the first-time buyer sector. However, in spite of the apparent veneer of market buoyancy, those thinking of putting their property up for sale need to avoid being too optimistic with their initial asking price, as most buyers are still understandably being very selective about their future home.”

To see Rightmove HPI report in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Letting Agent Talk

Letting Agency Owners: Are You the Bottleneck in Your Business?

As a letting agency owner, it’s easy to fall into the trap of wearing too many hats. But it’s not just exhaustion and burnout you need to worry about – it’s the impact it’s having on your bottom-line. Guest Blog By Sally Lawson – Agent Rainmaker “From managing client relationships and handling operations, to overseeing…
Read More
Breaking News

Latest developments in Renters’ Rights Bill: What landlords need to know

On the brink of becoming law, the Government last week rejected the majority of amendments put forward by the House of Lords, which would have mitigated the severity of some of the amendments. Property professionals, landlords and tenants are poised to navigate this once-in-a-generation overhaul of housing legislation.   Lucy Jones, Chief Operating Officer at…
Read More
Breaking News

What Will Commonhold Mean for Property Managers?

By Robert Poole, Director – Block Management, Glide Property Management, part of LRG The government’s ambition to end leasehold for most residential properties has put commonhold back into the spotlight. First introduced in 2002, commonhold offered a resident-led alternative to traditional leasehold ownership. However, legal and commercial complexity stalled adoption. Two decades later, policymakers are…
Read More
Breaking News

Think You Know Mortgages? These 5 Myths Could Be Costing You Money

When it comes to mortgages, most of us have had advice from family and friends. The trouble is, a lot of these so-called facts are myths, with many individuals missing out on better deals or opportunities, due to not doing their own due diligence. Emma Graham, Business Development Director at Hodge Bank, explained: “Mortgages are…
Read More
Breaking News

Just 17% of homes selling for more than £500k

The latest analysis by eXp UK has revealed that while just 17.4% of homes sold across England and Wales so far this year achieved a price of £500,000 or more, agents in London, the South East, and the East of England will face the greatest need to adapt should the Government press ahead with plans…
Read More
Breaking News

Estate agents back Rachel Reeves’ stamp duty shake-up but call for abolition without replacement tax

The latest research from GetAgent has revealed that the majority of estate agents in England are supportive of Chancellor Rachel Reeves’ plans to overhaul property taxation by scrapping Stamp Duty Land Tax (SDLT). However, 44% argue that the new levy should be focused only on higher-value homes, while 79% favour abolishing SDLT outright without introducing…
Read More