Are you sure you want to delete your account?
You have indicated you do not agree to our terms of use, do you wish to delete your account?
Login
person
lock_outline
Why not sign up?

You will also be registered for the agent to contact you via other means you provide, with information relevant to your property search.

Register
There was an error creating your account, please try again. If the problem persists, please contact us and we will investigate.
Password does not match


How would you like to be contacted?

UK Property

UK Property

Published: 18/01/2018 By Paul Simon Residential

Rightmove, which tracks 90% of the UK property market, said there had been a “busy start” to 2018, with more than 4m visits a day to its site, up nearly a tenth on last year. The average price was up 0.7% to £297,587.

But sellers may be being over-optimistic in their pricing and may have to reduce to find buyers. Rightmove said the average time to sell a property has jumped to 67 days compared to 55 days last summer.

The average price of a property coming on to the market in January is up by nearly £2,000 compared with December, but sales are down by 5.5% on the same period a year ago.

The period from now to late spring is traditionally the busiest time of the year for house hunters as they aim to complete transactions and then move during the summer school holidays. But Rightmove said the pace of activity had slowed.

Asking prices continue to fall in London. 

The average price for a home listed by the website in the capital is currently £600,926, down 1.4% on the month and 3.4% over the year.

With affordability stretched and incomes falling behind inflation, most property forecasters are predicting flat house prices in 2018 or relatively small rises.

Of the two big lenders that operate well-known price indices, Nationwide said it expected property values to be “broadly flat in 2018, with perhaps a marginal gain of around 1%”. Halifax allowed itself some wiggle room, predicting UK growth from 0% to 3%.

Halifax said that in December house prices fell by 0.6%, the first decline it had registered in six months.

DISCLAIMER: The news and research in the above article do not represent necessarily either the views nor should they be seen as a recommendation of Paul Simon Residential Sales.