As the New Year progresses there is good news from sources within the housing market that report a significant annual rise in property prices during 2013. Information provided by on-line property portal Rightmove, shows that asking prices rose 6.3% year-on-year across England and Wales, making this the highest annual rise since November 2007.
Even at this stage of 2014, January is bucking the trend of recent years. Rightmove is reporting that views on their website have jumped by 20% compared to the same time last year. Traditionally January is a slow month but there has been an increase of 4% in properties coming on to the market and an increase in property prices of 1% – the biggest property price rise seen in a January for some time.
So, will 2014 be a good year for the property seller? The Council of Mortgage Lenders is predicting that there will be a rise again in the number of property transactions and that mortgage lending will also increase.
It seems to be an encouraging start to the year – and one which may persuade those who have been reluctant to put their property on the market before now, to do so in 2014.