Asking prices are back into positive territory as buyer and seller activity jump continuing with what promises to be a ‘tentatively promising start to the new year

According to the data from Rightmove, the number of sales agreed in the first 6 weeks of the year is 16% higher than in the corresponding period last year. However, the market remains price-sensitive, with many buyers still budget conscious.

The analysis shows that sellers who price right initially are far more likely to sell quickly.

Property mark CEO Nathan Emmerson commented “Our members continue to tell us that the market is gathering momentum, however people continue to be money conscious. Only serious buyers and sellers are making a move after finding middle ground in their affordability provided through a decrease in property prices helping combat any rises in interest rates”

David Phillip commented “there are growing signs that this will be a smoother year for those looking to buy and sell properties. More new vendors are now entering the market, with many adopting increased price expectations as a result of an increased demand from buyers. It is important that vendors price competitively but realistically when setting their asking price”.

The start of the year has seen renewed optimism and positive sentiment in the wake of a further pause in interest rates – this optimism turns into confidence which is translating to more buyers and sellers coming to market.

The surge in activity can also be attributed to the decreasing and now stabilising mortgage rates. Many people who stalled on a house move last year amid uncertainty are now starting to re-emerge.”

If you are considering selling your home and would like a free market appraisal with David Phillip FRICS please call 01134 676 400 w:davidphillip.co.uk 86, Leeds Road, Bramhope

David Phillip Estate Agents, covering North Leeds, Bramhope, Adel, Cookridge, Otley and Pool-in-Wharfedale