Rightmove.co.uks february House Price Index shows that sellers are continuing to push up asking prices, giving a strong increase in the start of 2013. Key Figures: Average asking price is £235,741 2.8% increase against the January HPI figures 1.1% increase over the past year since February 2012

Rightmove.co.uks february House Price Index shows that sellers are continuing to push up asking prices, giving a strong increase in the start of 2013.

Key Figures:

  • Average asking price is £235,741
  • 2.8% increase against the January HPI figures
  • 1.1% increase over the past year since February 2012

Headline summary from rightmove.co.uk is:

  • Sprightly start to 2013 with new seller average asking price at £235,741, the highest in February since 2008
  • Encouraging signs of market activity as Rightmove sets new records for website activity and volume of enquiries in January, suggesting high levels of engagement
  • Further Rightmove research finds that age and equity will be the main market drivers in 2013 meaning ‘old hands’ are the most willing and able to move
    • Seven in ten (71%) who intend to sell in 2013 are over 45
    • Half of those planning to buy in 2013 (49%) will do so for at least the third time
    • ‘Downsizing’ the number one reason for selling in nine out of ten regions in the UK

Miles Shipside, director and housing market analyst at Rightmove comments:

“There has been a sprightly start to 2013 and, while market activity remains patchy across locations and property type, some agents are reporting their busiest new year since the onset of the credit-crunch. While encouraging, it’s far too early to pop the champagne corks as certain sectors will remain on ice until the return of wider-spread mortgage availability. However, our research suggests that with age comes experience and, more importantly, equity, and it these old hands that seem most confident to plan a move this year.”

Regional Trends

Regionally London is no longer the driver across England with the North West and Wales leading the regional increases in asking prices with 5.2% and 5.0% respectively.

For these two regions it places the average asking price at £156,801 and £161,365 respectively.

At the bottom of the regional picture is the South East followed by East Anglia with 0.4% and 0.9% increases respectively.

For these two regions the average asking prices is therefore £297,036 and £215,037.

Londons average asking price is a massive £486,890!