The new year has seen new seller average asking prices rise to a five year high, at 235,741 pounds, the highest for the month of February since 2008, according to the latest data available from property website Rightmove.

Asking prices increased by 2.8% month-on-month (1.1% year-on-year).

According to the information provider there are encouraging signs of market activity as Rightmove has set new records for website activity and volume of enquiries in January, which suggest high levels of engagement.

For Miles Shipside, housing market analyst at Rightmove, "(...) while encouraging, it's far too early to pop the champagne corks as certain sectors will remain on ice until the return of wider-spread mortgage availability."

Interestingly, Rightmove research finds that age and equity will be the main market drivers in 2013 meaning 'old hands' are the most willing and able to move.

In this regard, seven in ten (71%) who intend to sell in 2013 are over 45 and half of those planning to buy in 2013 (49%) will do so for at least the third time.

Also worth pointing out, 'downsizing' is the number one reason for selling in nine out of ten regions in the UK.

AB

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