Rightmove: Biggest January rise in property asking prices in 25 years

House asking prices shot up by the highest ever margin on Rightmove between December and January as the market rebounded from a Christmas lull and pre-Budget uncertainty.

The average asking price on the property website jumped month-on-month by £9,893 from £358,138 to £368,031 (2.8%).

The hike is the largest December to January jump since Rightmove launched its House Price Index (HPI) 25 years ago and the biggest month-on-month rise of any month since June 2015.

The property website said average asking prices are now 0.5% higher compared to January 2025.

However, some areas of the UK didn’t see asking prices rise in the month to January, with the East Midlands and Scotland experiencing falls.

Rightmove also said the number of homes on the market is at its highest January level since 2014, which could put downward pressure on prices.

Meanwhile, Colleen Babcock, property expert at Rightmove, advised people against overpricing their homes as it could make them harder to sell.

“This new year seller confidence is a good sign, but sellers would do well to listen to the guidance of their agent when setting their asking price and avoid being over-optimistic,” Babcock said.

Buyer demand rises post-Christmas

Rightmove said it received the highest number of Boxing Day website visits ever at Christmas. Meanwhile, in the two weeks after Christmas Day, buyer demand rose by 57% compared to the two weeks before 25 December.

Rightmove measures buyer demand based on the number of people contacting estate agents to enquire about homes for sale.

It said the buyer demand at the beginning of 2026 was weaker than 2025, when buyers flooded the market ahead of an end to the temporary increase to stamp duty thresholds, but was in line with 2024 figures.

Babcock said: “A record number of visits to Rightmove on Boxing Day and a big bounce in activity following a quieter festive period have set the tone for a positive start to the year.”

What’s likely to happen to house prices in 2026?

The housing market suffered a stormy 2025 as demand dropped after stamp duty thresholds dropped in the spring and the market stayed cautious pre-Budget.

Higher mortgage rates have also put a dampener on prices. Forecasts over how much house prices will rise vary, but estate agency Hamptons expects them to grow modestly by 2.5% while lender Halifax has predicted they will increase up to 3%.

Separate research published recently by Hamptons also shows that in 2025, nearly 15% of Londoners sold their home for less than they bought it for, the highest proportion in England and Wales and above the national average of 8.7%.

There are signs the market is starting to rebound though.

The most recent Residential Market Survey for December from the Royal Institution of Chartered Surveyors (RICS) shows expectations for home sales and house prices have turned more positive following months of uncertainty.

The Bank of England (BoE) cut base rate from 4% to 3.75% in December too, which has led to a number of lenders including Nationwide and HSBC lowering their mortgage rates in recent weeks.

Some parts of the UK could experience above-average house price growth in 2026 too.

Reports differ, but largely suggest property values will rise the most in Northern Ireland, Scotland and Northern England.

Conversely, London and Southern England, where house prices are currently the highest, are expected to grow the least.