- Rightmove are reporting signs of positivity in the market, although they acknowledge that it is early days. The week to 16th January 2023 has been the busiest for valuations since August 2022.
- Notably, buyer demand is up by 4% compared to the same period in 2019 and 55% compared to the two weeks before Christmas. This is the biggest new year bounce since 2016.
- Mortgage rates also continue to fall as interest rates soften, with some deals for first-time buyers now below 5%. It is a trend which is expected to continue and should encourage this segment of the market to become more active.
The signs are positive for the market. Buyers are active, mortgage rates are holding, and there is more optimism from owners looking to put their properties on the market. Let’s hope this continues throughout 2023.
Source: Dataloft, Rightmove, MoneySuperMarket