Rightmove reveals biggest December increase since records began
House prices registered their biggest rise in the month of December following the election result, according to property website Rightmove.
The 2.3% increase between last month and this comes on the back of the “stability” created by the Conservative victory.
Asking prices rose on average by nearly £7,000 over the month, the most in December since the firm started publishing the index in 2002.
Miles Shipside, director at Rightmove, said: “The housing market dislikes uncertainty, and the unsettled political outlook over the last three and a half years since the EU referendum caused some potential home movers to hesitate.
”There now seems to be a release of this pent-up demand, which suggests we are in store for an active spring market.
“While there may well be more twists and turns to come in the Brexit saga, there is now an opportunity for sellers to get their property on the market for a spring move unaffected by Brexit deadlines.”
The figures follow the publication of Halifax’s own house price index last week that showed prices rose in December at the fastest pace since 2013. RICS’ monthly survey of estate agents also reported a surge in buyer confidence, with new enquiries at their highest level for nearly four years.
The RICS index of buyer demand went from -5% in November to +17% in December.
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