- Newly marketed prices up 0.4% (+£1,086)
- Rightmove visits up by 5%
- FTB market opportunities up with two/one beds properties on offer up 1.9% from Jan 2016
- Fewer BTL investors, with sales down 13.2% in Dec 16 compared to Dec 15
Rightmove's Miles Shipside comments:
“The 0.4% monthly and 3.2% year-on-year price increases are indicators of the continued market momentum from the autumn. Demand for a suitable home is such that visits to the Rightmove website are still up by 5% year-on-year, despite being compared to a period that was boosted by high demand from buy-to-let investors rushing to beat the stamp duty deadline. Year-on-year comparisons for transactions in the first quarter of 2017 should also allow for the distortion of last April’s additional stamp duty tax deadline, as transactions were up 40% in the first quarter last year.
Those planning to buy their first home in 2017 have more choice of properties and less competition from other buyers than their counterparts a year ago. It’s a possible learning point for aspiring first-time buyers that a year ago buy-to-let purchasers acted more quickly and closed deals at a faster rate, appearing not to take a Christmas break. Admittedly they had the financial incentive of a deadline to motivate them, but first-time buyers still have time to act and currently have the incentive of stronger negotiating power to try and mitigate the upwards trajectory of property prices.”
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Those planning to buy their first home in 2017 have more choice of properties and less competition from other buyers than their counterparts a year ago. It’s a possible learning point for aspiring first-time buyers that a year ago buy-to-let purchasers acted more quickly and closed deals at a faster rate, appearing not to take a Christmas break. Admittedly they had the financial incentive of a deadline to motivate them, but first-time buyers still have time to act and currently have the incentive of stronger negotiating power to try and mitigate the upwards trajectory of property prices.”
Our latest #houseprices report is out - find out what our HPI sees for the 2017 #property market: https://t.co/YRkUdc0K3D #news pic.twitter.com/tPTsBIjFoD— Rightmove (@rightmove) January 16, 2017
Buy-to-let slowdown gives first-time buyers a boost https://t.co/FW48qLYQ28
— FTAdviser (@FTAdviser) January 16, 2017
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