Home sellers are optimistic in the housing market. The average asking price increased by £1,509 this month. The overall average asking price increased to £290,963 according to Rightmove. Experts have been at ease reporting that homebuyers will stay sure footed in the market despite rising prices.

The increase amounted to a 0.5% shift for new properties coming onto the market.

This follows the strong demand reported by Rightmove over the holidays for viewing of their website. Record levels of hopeful home buyers and home movers shopped online for new properties. This is expected to result in strong demand from buyers in the first quarter of the year. Consumer outlook remains optimistic.

January 2016 recorded an increase in the average asking price across all regions in England compared to last January. The East of England had the largest annual increase of 9.8%. The average asking price increased in that area to £312,921. The next largest annual increase was for London which had asking prices up by 7.8% to £610,741.

While home buying and home moving is expected to be on the rise, home movers are expected to stay put and take advantage of the still low interest rate remortgages. Therefore mortgage lending overall should see a boost in the first quarter as well.

Much of the interest in mortgages and remortgages is due to the fact that the Bank of England is expected to increase the standard base interest rate this year. It will be the first increase since March 2009 and the move from the now normal low interest rates being offered by lenders.