Published: 15/03/2021The release of Rightmove’s House Price Index today has shown that this month is set to be the strongest Spring sellers’ market we have seen throughout the past decade.
There is an incredible excess of demand over supply and due to this, the average price of property coming to the market has increased nationally by 0.8% this month.
The number of applicants enquiring about each property is 34% higher on average than this time last year, which was already a very active market, and potential buyers are eagerly awaiting fresh stock coming to the market.
February saw over seven million daily visits to Rightmove, a huge 40% higher than the same month in 2020. The start of this month has already shown the number of sales agreed up by 12% for the first week in March compared to last year.
This means that the beginning of the traditional Spring selling period is the perfect time to market a home as everything is pointing to this being the best sellers’ market of the past ten years!
Here at Sowerbys we have 64% less houses for sale now than we did at this time last year and the demand for property in Norfolk has never been higher. With both the Stamp Duty Holiday extension and the desire to live in a more rural setting, this Spring market is probably going to be the most buoyant we have ever seen.
This lack of supply of properties and increased demand means that this is the perfect storm for sellers. If you’re looking to sell your home, you can expect to achieve a fantastic price for your property.
If you are planning to sell, we urge you to be 100% sure you are instructing an agent who can genuinely get you the very best price for your property.
If you would like any further information or have any questions, please get in touch with one of our branches here or book a valuation now.