UK House Prices Rise Most Since Mid-2015: Rightmove

(RTTNews) - UK house prices registered its biggest monthly increase since June 2015 as market sentiment recovered following the uncertainty surrounding the Budget, property website Rightmove said Monday.

Average property prices increased 2.8 percent in January from December, the largest ever price increase for the month of January. Also, this was the largest monthly increase since June 2015.

On an annual basis, house prices gained 0.5 percent in January.

"However, the number of available homes for sale is the highest it's been at this time of year since 2014, and with a third of existing homes for sale seeing a price reduction, new sellers should be wary of being too optimistic on price," said Rightmove.

Rightmove said the record January increase reflects that home-movers returned to the market, with the traditional Rightmove Boxing Day bounce combining with a recovery in market sentiment after the uncertainty of the Budget.

In the two weeks post-Christmas, buyer demand surged 57 percent compared to the two weeks before Christmas. Meanwhile, the number of newly-listed homes for sale jumped 81 percent.