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Looking for a Spring Sale?

Tuesday, March 16, 2021

Looking for a Spring Sale?

Spring 2021 looks to be the strongest Spring for property sales in the past ten years and if you are thinking of selling here’s why it could be a good time to do so. Demand is currently outweighing supply with a record number of potential buyers per property on the market – up 34% on the same period in 2020, which itself was buoyant, prior to lockdown. The number of sales agreed is up 12% on last year with potential buyers ready and waiting to view properties new to the market.

Property portals have seen a significant increase in traffic in February and March; Budget day was Rightmove’s busiest day ever (with over 9 million visits) spurred on by a combination of the stamp duty holiday extension and the introduction of the 5% deposit mortgage guarantee scheme. Enquiries to UK estate agents from potential buyers were 82% up compared to the same day in 2020.

Rightmove’s Director of Property Data Tim Bannister said: “There are clear signs from buyers that they want to move home in the UK this year. I do completely understand the thinking that homeowners want to find somewhere first, but in the current competitive market if they already have their property up for sale it means when they do find that dream home they’ll have a much better chance of having their offer accepted.” Based on current UK averages for time to find a buyer and then to navigate the legal process through to completion, analysis suggests that sellers should start marketing their property by Tuesday 23rd March if they want buyers to feel confident about making use of the tapered end to the stamp duty holiday by the end of September.

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