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BUYER DEMAND INCREASE
The UK housing market is witnessing a remarkable increase in demand as we move into the bustling Spring season. With a 36% rise since the beginning of 2021, both buyers and sellers have reason to pay attention. Here's a detailed look at the current state of the market.
Soaring Demand
According to the Dataloft Demand Index, there has been a significant 36% upswing in housing market demand since the start of the year. This positive trajectory continues, with demand growing by 13% between February and March alone. Such trends herald an unusually busy Spring market, giving the sector a much-needed boost.
Rightmove's data complements these findings, reporting a 12% increase in sales during the first week of March compared to the same period last year. Furthermore, the number of buyers enquiring per available property has soared by 34%.
Lockdown's Impact
Lockdown 3 has played a vital role in this scenario, exacerbating the supply/demand imbalance across the market. This imbalance has supported consistent property price growth, ensuring that the market remains robust despite external challenges.
A Look to the Future
As lockdown restrictions begin to ease and incentives to move become more appealing, all eyes are turning to whether the new supply will start to increase. A rise in supply would offer more choices to buyers and might balance the market dynamics.
Conclusion
The 2021 Spring market is shaping up to be more energetic and promising than ever. Whether you're a buyer looking to find your dream home or a seller aiming for the best price, the time seems ripe for action.
At Heenay Joshi Property Experts, we offer first-class customer service and marketing to ensure you achieve your real estate goals in Warwickshire. Contact us on 07864 942 768 or email hj@hjpe.co.uk to get started.
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