UK house prices made their biggest December to January leap since pre-pandemic as they rose by 1.3%, or around £4,500, compared to the previous month.

The new data from Rightmove shows the average price of a property sits at £359,748, although it remains 0.7% than last year.

Buyer demand is also up by 5% in the first week of the year, however that's still being outpaced by the number of new properties coming to market.

Tim Bannister, Rightmove’s director of property science said today’s reading indicated a return of confidence when “compared with the unsettled post-mini-Budget period”.

He said: “The number of properties coming to market for sale is also 15 per cent higher than at the start of last year, following a record number of sellers launching on Rightmove on Boxing Day.#

“The North East and South West have seen the greatest addition of new choice for the increased number of new buyers. There remains no glut of homes for sale, with the total number of available properties just one per cent above the more normal market levels of 2019.”

Read more in today's Telegraph.

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