For more in-depth insights and information specific to your area go to: http://www.rightmove.co.uk/news/house-price-index/
Sales
Opportunity for first-time buyers
- 2017 has started steady with 0.4% (+£1,086) rise in the price of property coming to market, similar to the 0.5% rise recorded in January 2016
- Encouraging early signs of home-mover activity, with visits to Rightmove since Boxing Day up by 5% even when compared to last year’s buy-to-let surge
- There is a window of opportunity for first-time buyers this new year with more choice and negotiating power.
- Available stock for sale of two beds or fewer currently up 1.9% versus previous year
- There are fewer buy-to-let investors to compete against and sellers are more open to lower offers as sales agreed in this sector down 13.2% in December 2016 compared to previous year
| Month | Avg. asking price | Monthly change | Annual change | Index |
| January 2017 | £300,245 | +0.4% | +3.2% | 247.2 |
| December 2016 | £299,159 | -2.1% | +3.4% | 246.3 |
| National average asking prices by market sector (excluding Inner London) | ||||
| Sector | January 2017 | December 2016 | Monthly change | Annual change |
| First-time buyers | £188,612 | £183,900 | +2.6% | +6.4% |
| Second-steppers | £255,387 | £254,388 | +0.4% | +4.5% |
| Top of the ladder | £520,840 | £521,993 | -0.2% | +0.4% |
Lettings
Rents to rise 4% outside London
- All regions except London recorded a rise in asking rents in 2016 with prices up annually by 3.0%, just slightly lower than 2015’s rise of 3.7%. The highest growth recorded in the northern regions of Yorkshire and the Humber and the North West.
- London recorded an annual price fall of 4.4%, which was most marked in Inner London
- In 2017 Rightmove forecasts asking rent rises of 4% outside London, driven by less availability of rental stock resulting in upwards price pressure for tenants
East Midlands Trends
| Month | Avg. price |
| Quarter 4 (Oct-Dec 2016) | £605 pcm |
| Quarter 3 (July–Sep 2016) | £610 pcm |
| Quarterly Change | -0.7% |
| Avg. price | £592 pcm |
| Annual change | +2.3% |
If you would like more information about selling or renting your property, call Phillips George for a no obligation valuation 0116 216 8178, [email protected]
