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House prices continue upwards trend says property website Rightmove

The average price tag on a home coming on the market surged by £6,785 in January, according to property website Rightmove

THE average price tag on a home coming on the market surged by £6,785 in January, according to a property website.

Rightmove's report, which highlighted evidence of a "post-election bounce", said the 2.3 per cent upswing is the biggest month-on-month increase it has ever seen at this time of year since its records started in 2002.

The big monthly jump helped to push the annual rate of growth in asking prices to 2.7 per cent, the highest level since July 2017.

Rightmove said that in the period from December 13 to January 15, immediately after the general election, inquiries to estate agents were up by 15 per cent compared with the same period a year ago.

This led to a 7.4 per cent increase in the number of sales agreed over the same period.

Across the UK, the average asking price now stands at £306,810 - up from £300,025 in December.

Rightmove director Miles Shipside said: "This is the biggest new year price surge that we have ever recorded."

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