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House Prices Jump in February Posted: 21st February 2022
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According to property portal Rightmove, it has reported a new record average asking price in February marking a 2.3% rise.

As demand continues to rise across the UK, asking prices have risen by an incredible £7,785 making it the biggest monthly jump in asking prices in more than 20 years, taking the average price to £348,804 this month.

Typically, house prices rise in the month of February compared to January – possibly because people make the decision to move in the New Year once the festivities have ended and we see a spike in demand at the start of February as properties are listed.

The annual rate of asking price growth is currently the highest figure recorded since September 2014 when prices went up by 9.5%.

This rise means that house prices have risen by an incredible £40,000 since the pandemic began – comparatively, in the two years before the pandemic prices went up by £9,000.

Despite the lifting of restrictions over the last few months and a return to normality for many people, the pandemic is still influencing many home movers. Rightmove believes that the growth we’ve seen this month is due to second steppers who are seeking more space. This has been a running theme since lockdown, with gardens and access to parks and green space in high demand. In addition, people have sought extra internal space to accommodate home working especially as many people move forward with a hybrid home/office work arrangement as employers have realised the benefits of staff working at home.

This month, more buyers are making estate agent enquiries, with a 16% rise compared to the same time in 2021. Property listings have increased by 11% demonstrating that sellers are putting their property on the market prior to looking for a new home. However, if you can we would suggest selling first so that you are in a stronger position to purchase a property as a ‘power buyer’.

The lack of available homes are still a challenge for estate agents as supply isn’t keeping up with demand.

According to property portal Rightmove, it has reported a new record average asking price in February marking a 2.3% rise.

As demand continues to rise across the UK, asking prices have risen by an incredible £7,785 making it the biggest monthly jump in asking prices in more than 20 years, taking the average price to £348,804 this month.

Typically, house prices rise in the month of February compared to January – possibly because people make the decision to move in the New Year once the festivities have ended and we see a spike in demand at the start of February as properties are listed.

The annual rate of asking price growth is currently the highest figure recorded since September 2014 when prices went up by 9.5%.

This rise means that house prices have risen by an incredible £40,000 since the pandemic began – comparatively, in the two years before the pandemic prices went up by £9,000.

Despite the lifting of restrictions over the last few months and a return to normality for many people, the pandemic is still influencing many home movers. Rightmove believes that the growth we’ve seen this month is due to second steppers who are seeking more space. This has been a running theme since lockdown, with gardens and access to parks and green space in high demand. In addition, people have sought extra internal space to accommodate home working especially as many people move forward with a hybrid home/office work arrangement as employers have realised the benefits of staff working at home.

This month, more buyers are making estate agent enquiries, with a 16% rise compared to the same time in 2021. Property listings have increased by 11% demonstrating that sellers are putting their property on the market prior to looking for a new home. However, if you can we would suggest selling first so that you are in a stronger position to purchase a property as a ‘power buyer’.

The lack of available homes are still a challenge for estate agents as supply isn’t keeping up with demand.


Whatever your reason for moving; whether it's for extra space, to downsize or you may simply have found your dream home, Nicol can help. Our knowledge of the local property market helps us develop a marketing plan that's right for you and your property.
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If you are planning on selling your home, contact Nicol Estate Agents today for an appraisal of your property. Our Managing Director Douglas Nicol and Sales Manager Daniel Cohen carry out hundreds of market appraisals every year, giving them an intimate and unparalleled knowledge of the property market in Glasgow, from city centre apartments to family homes and building plots. We will talk to you about the property market in your area, compare sales evidence, local demand for similar properties, outline our tailored marketing plan and provide details of our sales support strategy right through to completion.