Asking prices for British homes rose for the first time in two months as the housing market showed signs of calming after the turmoil triggered by former prime minister Liz Truss's 'mini-budget', property website Rightmove said on Monday.
However, average two- and five-year fixed mortgage rates have eased afterTwo- and five-year fixed rates have fallen for a second month to 5.8% and 5.6% respectively, according to data from website Moneyfacts.
"The seasonal increase in new seller asking prices this January from December is particularly encouraging for movers who are looking for the reassurance of familiar trends and a calmer, more measured market after the rapidly changing and at times chaotic economic climate of the final few months of last year," Tim Bannister, director of property science at Rightmove said.
Home buyer demand at the beginning of 2023 was up 4% compared with the same period in 2019, before the pandemic market frenzy, but was down 36% compared to last year.Reporting by Suban Abdulla Editing by William Schomberg
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