Rightmove’s latest House Price Index reflects desire to get sales over the line before Stamp Duty offer closes

Hot off the press, Rightmove’s House Price Index gives a national picture of house prices and activity over the past few weeks.

Here are some key facts:

Strong lockdown demand as new sellers price keenly to beat March deadline

• Average price of property coming to market dips by 0.5% (-£1,505) from last month despite continuing strong buyer demand as new sellers join the rush to sell and beat the March stamp duty deadline
• Demand and activity compared with October last year are strongest in the price bands and regions where buyers are set to make the biggest stamp duty savings as the March deadline approaches:
• National sales agreed are up 50% on October last year, and Rightmove now estimates there’s 650,000 sales going through the buying and selling process, 67% more than at the same time in 2019
• 106% uplift in sales agreed and drop of 23 days in time to secure a buyer in £400,000-£500,000 band
• The more expensive southern regions also fare better than the national average, with a 72% uplift in the number of sales agreed in the East of England, and 69% uplift in the South East
• Buyers who were temporarily uncertain in run-up to the new lockdown in England have jumped back into action, with the first six days of the second lockdown seeing demand up by 49% on this time last year, as the housing market remains open

Their full report can be read here

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