Buyer demand increases this year

According to recent data compiled by Dataloft Inform there has been a 36% increase in housing market demand since the start of 2021. Which means that the traditional spring market is set to be busier than ever.

Demand rose 13% between February and March this year, with Rightmove reporting sales in the first week of March up 12% year-on-year. The number of buyers enquiring per available property has also significantly increased and was 34% higher.

The third nationwide lockdown has exacerbated the supply demand balance across the market with demand considerably outstripping supply. The buyer demand is continuing to support property price growth as buyers look to get their hands on their next home, and sellers look to take advantage of the situation.

However, as from this week lockdown restrictions are starting to ease so will this have an impact on supply and demand? We’ll have to wait but it’s likely that supply will start to increase as more people feel comfortable putting their home on the market.

If you’re look to buy or sell in the coming months then why not contact your local branch to see how they can support you with your move?

Sources: Dataloft Inform and Rightmove