Rightmove has predicted that properties coming to market in 2020 will see a 2% price increase.
The property website believes that the recently announced majority government “gives home-movers a window of certainty for an active spring moving season”.
It said that sellers’ pricing power will also be “enhanced by a lack of choice for potential buyers, with the proportion of estate agent stock that is available for purchase at its lowest for over two years”.
The number of agreed sales has remained almost level, only down by 3% in 2019 from the year prior, while the number of properties coming to market is down by 8%.
Whilst a lack of supply in the market is still a “concern”, Rightmove believed that property demand will remain resilient, and believe the outstripping of supply by demand will continue into the new year.
Miles Shipside, Rightmove director and housing market analyst, said: “The greater certainty afforded by a majority government gives an opportunity for a more active spring moving season, with some release of several years of pent-up demand.
“Given the Brexit track record to date, further political twists and turns should not be ruled out, though with a large majority there is a higher possibility of an end to the series of Brexit deadlines, and the prospect of an orderly resolution.”
He added: “Rightmove measures the prices of 95% of property coming to market, and we predict that buyers and sellers will on average see a 2% rise in those prices by the end of 2020.
“While this is over twice the current annual rate of 0.8%, it’s still a relatively marginal increase as it’s a price-sensitive market.
“With much of the political uncertainty removed, we expect that the number of properties for sale will recover as more new sellers come to market, making up some of this year’s lost ground.”