20 January 2010
People 'more inclined to put properties up for sale in new year'
Homeowners are more inclined to put their properties up for sale in the new year than in the run-up to the festive season, it has been pointed out.
According to director of Mouseprice Selwyn Lim, there is a reluctance to introduce residences to the market in December.
He remarked: "There is some seasonality in the property market and that seasonality is caused by people preferring to put their property on the market at the start of the year, as opposed to just before Christmas and the new year."
Mr Lim's comments come in the wake of figures produced by Rightmove, which suggested that property asking prices rose by 1.2 per cent during the first week of 2010.
It found that the typical home is on the market for £222,261 - which is 4.1 per cent more than was the case at the start of 2009.
However, Mr Lim went on to warn that the increase in stock levels of residences can cause prices to be "volatile" at this time of year.