There has been a lot of talk about the property market being a seller’s market of late. There is no denying there is considerable demand for property, but also, it seems as though many vendors have been cautious about entering the marketplace.
If the end of lockdown, the optimism of spring and the measures introduced during the 2021 March Budget has left you thinking about selling your home and moving on, we can help.
At Frank Schippers, we are pleased to say we have helped many homeowners connect with buyers, and we look forward to assisting you.
Rightmove says buyer searches are rising
The property portal claims they had a record number of prospective buyers on site in February, alongside these following claims:
Rightmove claims February 2021 traffic was 34% higher than February 2020 traffic
7 million people visited the site in February 2021
The number of overall visitors on site was 40% higher than February 2020
The number of property sales agreed in the opening week of March 2021 was 12% up on the previous year
The property portal anticipates asking prices rising further in spring
Rightmove continues to predict house prices will increase by 4% in 2021
Rightmove’s report states; “The current excess of buyer demand over supply is the largest we've seen in the last ten years and suggests that this could be one of the best ever Easters to sell”.
There is optimism surrounding the housing market
Tim Bannister, Rightmove's director of property data said: “This strong sellers' market is good news for those who are looking to put their home on the market as the traditional Easter selling season approaches. Blossoming buyer demand coinciding with blossoming gardens should put a spring in the steps of sellers, and more of them coming to market will provide a much-needed increase in the choice of property for the many who are looking to buy. So many sales have been agreed in recent months that we now face a serious shortage of homes available for sale.”
Marc von Grundherr, said: “With the double pronged boost to buyer demand in the form of a stamp duty extension and government guaranteed 95 per cent mortgage products, sellers can ill-afford to sit on their hands with regard to getting their property on the market. A lack of supply to meet the huge levels of buyer demand seen in recent months means that by and large, sellers are securing a very good price for their home.”
Tom Bill, head of UK residential research at Knight Frank, said: “Circumstances are conspiring to produce an active few months in the UK housing market. While the stamp duty holiday extension, the re-opening of schools and vaccine rollout are driving supply and demand higher, the prospect of summer holidays will inject further urgency into the second quarter of the year.”
If you have any housing market questions or queries, please feel free to contact us. If you plan on selling your home, we recommend arranging a property valuation to ensure you make an informed decision. At Frank Schippers, we are here to support you in this trying time, and you can call us on 01344 777 888.