January so far sees a slight increase in house prices due to increased activity

In January, house prices increased by an average of £4,500, according to the most recent study conducted by real estate website Rightmove.

The prices of newly listed properties increased by 1.3%, or £4,571, on a monthly basis to £359,748, according to Rightmove. Despite this, the prices are still lower than they were at this time last year by about 0.7%, even though there are about 15% more houses available.

According to Rightmove, completions have improved over the past year and activity has lately been highest in London and the North East of England.

The estate agency Hamptons today reports that private rentals increased by 10.2% yearly in December, the largest annual gain at the end of the year since records began in 2014. This suggests that higher rents may potentially be motivating individuals to migrate.

It stated that the rent for a newly leased property in December 2023 was £1,340.

(Sources: investing.com, proactiveinvestors.co.uk)