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
|
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.