Record Highs as properties sell at paceWith a monthly price surge of 2.1% (+£6,733), the national average now stands at a whopping £327,797, this figure beats the last record recorded only last October at around +£4000. This big jump comes as buyer demand soars in most areas chasing the lowest amount of properties available on the market in proportion to buyers. According to Rightmove this is now officially the fastest selling market that they Rightmove have ever recorded.
Fun Facts for April 2021
- The average number of days to sell a property are the lowest on record.
- Two and three-bedroom semi-detached homes are the fastest-selling.
- During the month of March over 2 billion minutes were spent looking at property.
- The number of sales agreed is up by 55% compared with the same period around two years ago.
- Demand is up a staggering 27.5% whilst the flow of new supply is down -6.1%
Demand for homesThere has been a strong buyer demand since the start of 2021 leading to one of the busiest sales markets in years. Since March, demand has jumped again to levels like those last seen in the wake of the first lock down last summer. The combination of children returning to school and the stamp duty holiday extension announcement in early March as well as the return of first time buyers and the continued ‘search for space’ among homeowners came together to create a demand boost, especially for family homes.
Demand peaked in the weeks following Easter hitting levels double those of the same period in 2017 – 2019. After the first major easing of lockdown on the 12th April in England, demand levels began to fall back as the focus switched from the housing market to catching up with family and friends.