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Rightmove reports record number of buyer and tenant enquiries for January

Christina Hoghton
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Christina Hoghton

2022 has got off to a busy start for the housing market, with demand running high

Buyer and tenant enquiries, along with valuation requests, hit record highs in January, making it the busiest start of the year since 2011.

According to Rightmove figures, buyer enquiries for homes increased by 16 per cent compared to the same period 2021 and were up 24 per cent on the same period in 2020.

Buyer enquiries were also up on pre-pandemic levels at 41 per cent over 2019 levels.

The report added that tenant demand was 17 per cent higher than January last year and a third up on the same period in 2020.

The number of new homes coming to market was also up 10 per cent in the last two weeks of January compared to the same time last year.

Valuation requests also hit a record for the month, up by over a quarter compared to last year and more than 50 per cent up on 2020 and 2019 levels.

Overall, the site reported 218 million visits to its site and apps, the highest number in January and up three per cent compared to last year, which was already a “frenetic year”.

The report added that despite the strong sustained demand there were “early signs of a better-balanced market” over the course of the year.

Rightmove’s director of property data Tim Bannister said: “We know that January is typically one of the busiest months for agents, with both buyers and sellers aiming to start the new year with plans for a new home, but even for a January, agents are reporting this will go down as one of the busiest ever.”

He added: “Strong buyer demand at the beginning of the year, even higher than that of January last year, shows us that people are still evaluating their needs and where they want to live, as they consider factors such as space, or returning to the office.

“The jump in new properties coming to the market over the last two weeks is a positive sign that there will be more choice to meet this demand during 2022, and the significant jump in valuation requests in the month compared to previous years, signals that there could be even more choice to come in the near future.”