The Rightmove House Price Index (HPI) for January 2014 shows the “Strongest ever start to the new year”: The average asking price was £243,861, up by 1.0% – the largest ever January rise of prices for property coming to market

Rightmove HPI January 2014

The Rightmove House Price Index (HPI) for January 2014 shows the “Strongest ever start to the new year”:

  • The average asking price was £243,861, up by 1.0% – the largest ever January rise of prices for property coming to market
  • Over the year since Jan 13 HPI the average price has increased by 6.3%
  • Optimism over the price expectations are seen by new sellers and their agents
  • With 58 properties per branch, there is the lowest stock of property for sale since February 2007
Rightmove HPI Over 2014

Rightmove HPI Over 2014

Miles Shipside, Rightmove director and housing market analyst comments:

“The early statistics for any new year are keenly anticipated as they indicate the shape of things to come in the year ahead. With a very strong start in both the price of property coming to market and the number of people looking at what’s on the market, it suggests that the new year resolution for many is to make 2014 their year to move.”

Rightmove.co.uk also saw new year highs for site traffic and enquiries with the number of property pages viewed up by nearly 20% against the same period last year.

Regional Changes

With the Rightmove HPI headline statistic cover the whole of England and Wales it is interesting to see what is happening in the regions.

London is on top with regards to the change in asking price over the year with a 7.0% increase. This is not surprising with the fact that London was hardly impact by the downturn.

More interestingly is that some of the regions were not that far behind – and not those normally associated with the London effect.

Following London was Yorkshire & Humber with a 6.8% rise over the year, closely followed by Wales with a 6.2% increase.

Just the one region saw a fall in asking prices over the year, which was the North. However at -0.1% the fall was not large but does leave the North lagging.