Home buyer demand up 36%
If you are thinking about selling your home in the Sittingbourne area but have been waiting to see what will happen in the housing market, Quealy & Co Estate Agents are delighted to reveal a record number of buyers are enquiring about property for sale.
In fact, the Dataloft Demand Index shows a 36% increase in housing market demand since the start of 2021 with the Spring property market set to be busier than ever.
Buyer demand rose 13% between February and March, with Rightmove reporting sales in the first week of March up 12% year-on-year. The number of buyer enquiries per available property was 34% higher than the same period last year on property portal Rightmove.
These national trends are also reflected on our own website, quealy.co.uk, with traffic being 105% higher throughout February and the first half of March 2021 than the same period last year.
Why is demand for property so high?
Lockdown 3 has led to a surging level of demand fuelled by people searching for more space and a lifestyle change. There was also the extension of the Stamp Duty Holiday announced earlier this month that has triggered many people to consider moving home this spring.
Demand for housing is outstripping the number of homes for sale by the biggest margin at any time over the past ten years, making this the best sellers’ market of the decade.
The average asking price of a property coming to market has risen by 2.7% in the past 12 months to £321,064 nationally. Asking prices also increased for the second consecutive month, with a rise of 0.8% (+£2,484) recorded in March. Despite fewer properties coming to market, the number of sales agreed for the first week of this month were still 12% higher than a year ago.
Perfect time to sell your home
Quealy & Co Estate Agents in Sittingbourne are witnessing buyers registering to find property much faster than the rate in which homes are being listed for sale in North Kent. This is particularly true of houses, rather than apartments, as people crave their own outside space and access to local green space after a year of stop-start lockdowns.
For homeowners considering selling their property in the next 12 months, now is certainly the time to act to ensure you can take advantage of favourable property market conditions. Vendors who have had their properties accurately valued and have been realistic on pricing should expect attractive offers and a prompt exchange with Quealy & Co.
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