Rightmove reported its highest ever number of website visits (over 9.3 million) on 7 April1. In March, house hunters spent over two billion minutes on the property listing site.
Buyer demand is high, as families continue to reassess their priorities for their home.
In February, a 22% upswing in the number of people contacting estate agents was recorded, compared with February 2020, while March saw demand soar by 34% compared with 2020’s pre-lockdown market.
Demand is outpacing supply, with an average of 17 buyers chasing every newly-listed home in February.
A shortage of property for sale is pushing asking prices higher. The Stamp Duty holiday extension and the first steps out of lockdown, are likely to provide sellers with the reassurance they need to take the plunge in the coming months.
Catch up on our other blog posts:
Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...
Saving for a deposit has been cited as a major barrier to purchasing a home by 59% of people, according to the latest survey from the Building Societies Association (BSA)1. Climbing from 54% in December last year and just 40% last June, raising a deposit is...
Do you think you know how much your home is really worth? Would you be surprised if it was worth much more or much less? Many homeowners’ estimates don’t live up to reality, with 45% of respondents to a recent survey1 undervaluing their property and 25%...
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