House Price Increase

Spring is historically known to be the best time to sell property according to Rightmove. As the weather is warming up and days are getting longer, more buyers tend to come out, attend late viewings after work, and are more willing to shop around.

This year is no different, if anything, the sellers' market is better than ever before. The prices are skyrocketing, so if you bought your home years and years ago, it's well worth checking how much it could be worth today. According to Rightmove, the price of property coming to market has hit a new record high for the second consecutive month, with the national average now being £354,564. This month’s 1.7% (+£5,760) increase is the largest at this time of year since March 2004.

There are plenty of people looking to move this spring. The demand is almost twice as high as the supply; which means if you list your property, it is likely to sell fast for a record price. The other advantage is that you will potentially receive multiple offers from suitable buyers, and you will be able to pick and choose which one to accept. Some buyers will be in a better position than others who have yet to sell their property.

It's also interesting to see the latest house buying trends. One of the key factors that continue to drive buyers is more space: extra room for the home office. The pandemic created a new way of working and living, a trend, that is here to stay. Many companies realise their employees don't need to be in the office every day. They can work from home 2 or 3 days a week or entirely remotely. Hence the demand and the prices of family homes outside London have significantly increased and created new hotspots across the UK.

If you are thinking of putting your property on the market or are just interested in finding out the value of your home, call us now for a FREE no-obligation market appraisal +44 (0)20 7723 5645 or email marketing@fraser.uk.com

Source: Rightmove