Rightmove has recorded its busiest January on record for home-mover activity, with buyer demand up 16% compared to January last year, and 24% compared to January 2020.

Tenant demand was also up 17% compared to last January, and 33% compared to January 2020.

The number of new homes coming to the market for sale jumped 10% in the last two weeks of January compared to the same time last year.

In addition, the number of enquiries from potential sellers to estate agents to value their home, often the first step in putting a home up for sale, hit a record for January.

Valuation requests to estate agents increased by 27% compared to January last year, 53% compared to 2020, and 52% compared to 2019.

Rightmove also recorded more than 218 million visits to its site and apps, the highest number during a January on record.

Visits rose 3% compared to 2021, itself a busy year, and 44% compared to 2020.

Tim Bannister, director of property data at Rightmove, 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.

“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.”

Richard Freshwater, director at Cheffins, added: “This January we’ve seen double the number of property valuations than in 2021 or 2020, and houses are selling like hotcakes.

“Whilst the increase in the number of houses coming up for sale might indicate more choice, there is a real urgency in the market at the moment from buyers, and on average we’re seeing thirty to forty requests for viewings for properties in all sectors of the market.

“However, hopefully there might be more breathing room as more houses become available to buy.

“Many people who were considering selling perhaps a year or so ago but put their move on hold, mainly due to COVID, now appear to be looking to get on with their lives and make the jump to selling up.

Buy-To-Let Sector Value Up £239bn Since 2017

New research has revealed that the UK’s buy-to-let sector has grown substantially in value over the last five years, increasing by almost £240bn.

Octane Capital analysed the level of privately rented stock across each region of the UK in relation to current market values to find the total worth of the buy-to-let sector.

They then compared this buy-to-let bricks and mortar value to 2017 to reveal how it had changed over the last five years.

Current buy-to-let market value

Their research shows that there are an estimated 5.5m private rental properties within the UK rental sector and based on current market values it is estimated that the total value of the nation’s buy-to-let stock is £1.7trn.

With just over one million private rental homes, the London market accounts for 19% of the UK’s total buy-to-let properties.

With the capital also home to the highest property values, it sits top where the total worth of the buy-to-let sector is concerned at over £500bn in value.

The South East is home to the next most valuable buy-to-let market at £247bn, with buy-to-let values also exceeding £100bn in the East of England (£168bn), South West (£156bn), the North West (£110bn) and the West Midlands (£104bn).

Largest uplift in buy-to-let market value

While the level of privately rented homes has remained largely flat across the UK over the last five years, the total value of the buy-to-let sector has seen a significant boost due to strong house price growth.

It is estimated that the UK’s buy-to-let market has climbed by £239bn since 2017, a 16.8% increase.

While London house price growth has lagged behind the rest of the UK, the capital has still enjoyed the largest uplift in buy-to-let market value with a £57bn jump, followed by the South West (£34bn) and the East of England (£27bn).

CEO of Specialist Property Lending Experts, Octane Capital, Jonathan Samuels, commented:

“The government has tried its hardest to dampen investment into the private rental sector in recent years, with a string of legislative changes around tax relief, stamp duty and tenant fees reducing the profitability of buy-to-let investments.

The pandemic has also proved problematic for some landlords who have suffered lengthy void periods due to factors such as the tenant eviction ban and a reduction in rental demand across our major cities, in particular.

Despite all of this, the sector has stood tall and continues to provide the vital rental market backbone that so many are reliant on.

At the same time, the nation’s landlords have benefited from a considerable level of capital appreciation on their buy-to-let investment and the value of the sector as a whole has increased substantially.

Let’s just hope that whisperings of a higher rate of capital gains tax remain just that, as any further increase could spur a reduction in available stock, causing the total value of the market to decline in the process.”