The common price ticket on a house jumped by round £4,500 month-on-month in January, in line with a property web site.
Throughout Britain, the typical worth of a property coming in the marketplace elevated by 1.3% or £4,571 month-on-month, to £359,748, Rightmove stated.
Regardless of the rise, common asking costs are nonetheless 0.7% decrease than a yr earlier.
Rightmove stated the amount of recent properties coming onto the marketplace for sale is 15% larger than a yr in the past.
Aggressive pricing from sellers remains to be very important, with the variety of new properties coming to market outpacing a rise that can also be being seen in purchaser demand, the web site stated.
The variety of potential patrons contacting property brokers about properties on the market within the first week of 2024 was 5% larger than in the identical interval final yr, with the expansion in exercise strongest in London and the North East of England, Rightmove stated.
It added that the variety of gross sales being agreed as January will get below approach has been larger than the beginning of final yr.
Tim Bannister Rightmove’s director of property science stated: “After a stop-start market in 2023, the preliminary indicators recommend a smoother yr for movers in 2024.
“Extra new sellers are actually coming into the market, and with extra assured pricing. Whereas the elevated degree of purchaser exercise that we’re additionally seeing might justify a few of this elevated pricing confidence from sellers, it’s vital that sellers who’re eager to discover a purchaser don’t get carried away with New Yr enthusiasm when setting their worth expectations.
“Elevated mortgage charges and the broader cost-of-living squeeze are nonetheless limiting patrons’ spending energy.
“Correct and real looking pricing for his or her native space is the recipe for fulfillment for sellers trying to get shifting in 2024.”
The report additionally quoted the views of property brokers.
Chris Rowson, managing director at Sharman Quinney in Cambridgeshire, stated: “Future sellers are getting their valuation appointments booked in, future patrons are inquiring and getting their viewings booked in and we’re additionally seeing actually excessive demand for mortgage appointments, as movers search to know their affordability and place in the beginning of the yr.
“Most significantly, we’re seeing affords being made, and a excessive quantity at that. It’s early days and never a time to get carried away, however we’ve had a great begin.”
Paul Bayliss, director on the Sq. Room Property Brokers on the Fylde Coast in Lancashire, stated: “We’ve seen numerous exercise from first-time patrons, now able to make their transfer in the beginning of the yr, and with mortgage charges extra settled, we’re additionally beginning to see upsizers return who are actually extra assured to take out a bigger mortgage for a much bigger residence.
“The market is simply getting began, however we’re optimistic about what 2024 can carry.”
The report was launched as property and lettings agent Hamptons stated the typical non-public hire on a newly-let property in Britain elevated by 10.2% yearly in December, marking the strongest end-of-year annual progress since its data began in 2014.
The common month-to-month hire on a newly-let property in December 2023 was put at £1,340.
The ten.2% annual improve in rental costs may have value the typical tenant who moved into a brand new residence a median of £124 per 30 days extra in hire, equating to an additional £1,488 per yr.
As mortgage charges proceed their downward path, among the upward stress on rents ought to scale back, Hamptons predicted, as remortgaging prices for some landlords could also be much less steep than they have been in 2023.
Aneisha Beveridge, head of analysis at Hamptons, stated: “Pressures on the rental market present few indicators of abating.
“Rental progress has been extra persistent than wider inflation, predominantly because of the scale of the prices confronted by most landlords on account of larger rates of interest.
“Barely decrease mortgage charges in 2024 ought to alleviate a few of these pressures and take among the warmth out of the rental market, however tenants will most likely proceed dealing with larger hire will increase than they did pre-Covid.”
The Hamptons lettings index makes use of knowledge from the Countrywide Group to trace adjustments to the price of renting and is predicated on achieved quite than marketed rents.