3.5% increase in available homes during the past month
As the spring surge begins, the number of sales being agreed is 11% higher than the same period in 2019, with properties being snapped up in no time at all.
However, do not worry. Recent statistics show that in the past month alone, there has been a 3.5% increase in available homes. This new supply of properties is driven by homeowners looking to move in time for the summer. **
What does this mean for you as a buyer?
The replenishing supply of properties is offering buyers a wider range of homes to choose from. In a market as fast-paced as this one, it’s important to be prepared from the get-go. Obtaining a mortgage offer in principle is a good place to start before beginning the search for your next home. This will put you in a stronger buying position when you find your ideal home.
If you are an existing homeowner…
Demand is high across the country, particularly for family homes with more space. There are currently twice as many buyers on the hunt for three-bedroom homes, compared to this time last year. So, as a homeowner, you have a good window of opportunity to sell your home this spring and find your ideal home as supply increases and more homes come to the market. **
Are you considering buying or selling this spring? Get in touch with our experts to discuss your next steps.
*Rightmove
**Zoopla
This article was originally published by BriefYourMarket and is reproduced here with their permission.
For more company news and insights from Pygott & Crone, click here
Latest news
Shared ownership: Is it a stepping stone or a trap?
Shared ownership is one of the most widely discussed routes onto the property ladder for first-time buyers who cannot afford to purchase outright.
Conveyancing Explained: What Happens Between Offer and Completion
The moment a seller accepts an offer feels like the conclusion of a long process.
Why Families Are House Hunting Right Now Instead of August
The family buyer is the most time-constrained purchaser in the property market.
The Green Upgrades Tenants Actually Care About vs The Ones They Don't
The language around energy efficiency in rental properties has become increasingly technical.
