19 Jan

Influx of new vendors 'typical in January'

Influx of new vendors 'typical in January'

There is normally a surge in the number of new vendors putting property up for sale at the start of the year, the director of Mouseprice has claimed.

Selwyn Lim said that January generally sees an "influx" of sellers as people hold off putting their homes on the market in the weeks before and after Christmas.

However, overall there are typically "a lot fewer" people looking to sell in January compared with other times of the year, which can make the housing market "quite volatile" from a value perspective, he remarked.

Mr Lim's comments may help to explain the recent increase in asking prices reported by Rightmove earlier this week. A 1.2 per cent rise was observed during the first week of the year, which the website indicated was not anticipated.

"Because there are fewer [properties], the average [price] can be spiky," Mr Lim said. "It can bounce around sometimes - it can be above and sometimes it can be below."ADNFCR-1222-ID-19565683-ADNFCR

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