Prices defy the January slowdown
HOMETRACK data reveals that house prices rose 0.1% last month.
Research shows that there was also a drop of 6.6% in homes listed for sale. Sellers achieved 94.4% of their asking price sale price and the average time taken to sell was ten weeks.
Richard Donnell, director of research at Hometrack, says: “House prices continued to increase in January despite a seasonal slowdown in market activity. Average prices grew 0.3% over the month. Despite the lowest monthly increase in house prices for six months, underlying market conditions remain strong with the market starting 2014 in a better position than a year ago. We estimate that first time buyers and investors, account for 40% of all housing sales.”