According to Rightmove, the UK's leading property website, home sellers are now being more pragmatic and are pricing their properties more realistically. The average price of newly-listed

properties for sale in the last month was just £14 higher than the previous month, with an average asking price of £362,452. This is the smallest recorded rise for the month of January in over 20 years since records began in 2001.

Despite the recent mortgage rate spike causing a dip in buyer confidence, there has been a stronger than expected start to the housing market in 2023, with increasing numbers of buyers returning to snap up properties. However, the number of sales agreed is still 11% lower than in 2019, although this is an improvement from the 15% decline seen at the beginning of the year and the 30% decline in the aftermath of last year's mini-Budget.

In summary, property asking prices in the UK have risen only slightly, with sellers being more realistic in their pricing, according to Rightmove. While the market has seen a stronger start to the year than expected, the number of sales agreed is still lower than in 2019, but there are signs of improvement.