It's a great time for sellers, with record levels of buyer demand pushing the average price of a new property up by 0.8% last month.
According to Rightmove, demand is at the highest it has been for a decade, pushing property prices up by £2,484 in March! The number of interested buyers enquiring about each home on the market has also reached a record level, being 34% higher than this time last year. The demand comes just as the property market enters its popular selling period, meaning that you have the greatest chance of achieving a quick sale this spring.
Has your property's value increased because of this busy season? - Request a free no obligation valuation now.
Almost every two out of three properties currently on agents' books are now sold subject to contract. In March, we were seeing a shortage of properties coming to market up until the stamp duty holiday was extended. Homeowners are now recognising that market conditions are ideal, with savings of up to £15,000 available and a wave of motivated buyers keen to put in offers as fast as possible. The dual impact from lockdown and the Government's incentives have driven high levels of attention, causing price rises and greater activity levels.
More space, inside and out combines with a healthier lifestyle option for families seem to be the main priority for many since the pandemic. If you are looking for a fresh start and would be interested in utilising the property market conditions we're currently experiencing, book your home valuation with us now.