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£2k rise in a week but month sees prices fall

Property asking prices shot up by over £2,000 in the first week of this year, according to Rightmove&#39s monthly house price index.

The index reveals that the first week saw prices rise by 1.2 per cent, up from under £169,000 to almost £171,000.

But Rightmove says month-on-month prices have fallen by 0.1 per cent in January, down to £170,935 from £171,055 in December. It says this is part of a traditional seasonal slowdown but is the lowest in the three years since it started the index.

Prices have risen across the country except in East Anglia (-0.5 per cent) and the West Midlands (-8.3 per cent). The worst performers of 2003 were Greater London and the South-east, saw rises of 0.3 per cent and 0.1 per cent respectively while Wales at 5.6 per cent, the North with 4 per cent and Yorkshire and Humberside at 3.9 per cent) saw the biggest rises.

Commercial director Miles Shipside says: “Interest from buyers – effectively latent demand – has never been as high as it is at the moment. With so much interest, homemovers appear to be feeling very positive.”

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