Many of us have been thinking about selling our homes in recent months, with a record number of buyers enquiring about properties on Rightmove.

Compared to this time last year, demand levels are 34% higher; even in light of the market’s pre-pandemic surges in activity at the start of 2020.

There were moments of concern when thinking about how the rest of 2021 was going to play out, with a predicted cliff edge, but thanks to the stamp duty holiday extension and the 5% deposit scheme, buyer demand will be further boosted throughout this month and next.

The average asking price for a home coming to the market has risen by 2.7% in just the past 12 months, bringing the average house price to £321,064 in the UK.

National average asking prices.

Month

Avg. asking price

Monthly change

Annual change

Index

March 2021

£321,064

+0.8%

+2.7%

248.2

February 2021

£318,580

+0.5%

+3.0%

246.3

The housing market sees the strongest spring for home sellers in a decade!

Despite fewer properties coming to market, the number of sales agreed for the first week in March was still 12% higher than 12 months ago, whilst almost two out of three properties currently on agents’ books are sold subject to contract.*

If you are thinking about taking advantage of this incredible demand and would like a quick sale, please book a valuation to start the process.

*Source: Rightmove

 

James Du Pavey
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