Sales increase whilst sale time decreases

Demand levels and sales activity has remained buoyant in the UK housing market into December.

Rightmove has reported that agreed sales were up 50% in October, with properties being marked as Sold Subject to Contract in just 49 days, which is 15 days faster than this time last year.

The second lockdown certainly didn’t put buyers of as buyer demand across England was 49% higher year-on-year during the first week of Lockdown in November.

The market is also currently strongest in the higher price brackets as sales priced between £400,000 and £500,000 have seen an uplift of 106%, compared to just 16% for those priced between £100,000 and £200,000.

This surge within the higher priced properties is likely to be down to the stamp duty savings. The stamp duty also looks to have affected full regions as activity levels are also higher in the regions where average property prices are highest.

If you’re looking to sell or buy then why not take a look at our handy guides to selling and buying, where we can help you step by step, or speak to your local branch to see how they can help you with your next move.

Sources: Dataloft, Rightmove