Housing market looks on course for buoyant 2016 as prices rise

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House-sellers’ asking prices have jumped by £1,500 this month amid signs that the market is in for a buoyant year, a property website has reported.

A 0.5 per cent or £1,509 month-on-month increase in the price of property coming onto the market took the average asking price to £290,963 across England and Wales, Rightmove said.

Every region across England also recorded higher average asking prices in January 2016 compared with January 2015.

Yorkshire and the Humber saw the country’s smallest annual increase in asking prices, with a 2.8 per cent increase, which took its average asking price to £165,722.

The East of England saw the biggest annual increase, with asking prices up by 9.8 per cent compared with a year ago, reaching £312,921 on average. London saw the next biggest annual rise, with asking prices up by 7.8 per cent on a year ago to reach £610,741 typically.

Mark Manning, director of Manning Stainton estate agents in Leeds, Harrogate, Wetherby and Wakefield, said: “It’s been very busy since the start of the year with the volume of appraisals up indicating plenty of appetite. We sold the highest percentage of stock in December than ever before. I think 2016 could be a very interesting year for agents with a big requirement to change and adapt to the conditions.”