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.

 

1Rightmove, 2021

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MORTGAGE LENDING CONTINUES TO SOAR

MORTGAGE LENDING CONTINUES TO SOAR

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...

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