Record Start to 2025: What’s Happening in the Housing Market?
The property market is off to an exciting start in 2025, with promising indicators for buyers and sellers alike. According to Rightmove, January has seen a record number of new sellers entering the market and a noticeable surge in buyer activity, setting the stage for a dynamic year in property. Here’s what’s happening:
A promising start for sellers
The average asking price for properties coming to market has risen by 1.7% this month, reaching £366,189. This represents the largest January price increase since 2020 and reflects a rebound from the typical seasonal dip in December. While prices remain nearly £9,000 below the peak seen in May 2024, this upward trend shows renewed seller confidence. A record number of early-bird sellers have also listed their properties since Boxing Day, offering buyers the highest level of choice at the start of a year since 2015. With 11% more new properties entering the market compared to the same period last year, competition among sellers is high. Pricing realistically is critical to attracting buyers in this busy market.
Good news for buyers
Buyers are showing strong intent to move, with enquiries to estate agents up by 9% and sales agreed up by 11% compared to this time last year. Rightmove has recorded its busiest start to a year for Mortgage in Principle applications, further demonstrating buyer demand. This increased activity, coupled with the high number of properties available, creates an excellent opportunity for buyers to find their ideal home. However, with such high levels of interest, the market is moving quickly, so prospective buyers are encouraged to act decisively.
Looking ahead
The early activity suggests 2025 could be a busier year for the property market, with Rightmove forecasting 1.15 million transactions and an average asking price increase of 4%. For sellers, this means a strong market to list properties, provided they price them competitively. For buyers, it’s an excellent time to explore the variety of homes available while staying mindful of interest rates and potential changes in affordability.
Conclusion
Overall, 2025 has begun with positive momentum, and while challenges remain, the property market is showing resilience and promise. Whether you’re looking to buy or sell, this year presents opportunities for those ready to make their move. If you’re considering your next steps, get in touch with us today to discuss your property goals.