At Coakley & Theaker, we know spring is an active time in the housing market. There have been many changes and even evolutions in the local and national housing market of late, but many factors remain the same.
From what we’ve seen locally, we believe spring will be busy for buyers and sellers, and the leading UK property portal suggests the same.
A new study undertaken by Rightmove, which examines property moving data over the last five years (albeit excluding 2020) provides a number of interesting findings:
Tim Bannister, Rightmove’s Director of Property Data, was quoted by Property Reporter as saying; “Spring has long been known as a peak point in the housing market calendar, with many buyers and sellers trying to get into a new home for the summer months. However, this interesting study confirms that for those considering selling this year, March has historically been the best time to come to market on average. For any sellers who might be conscious of coming to market at a time when the number of new listings has traditionally been high, the data shows us that the level of demand in March means sellers are likely to meet with multiple potential buyers competing for their home.”
Tim Bannister also said; “Those thinking of selling are also likely to be aiming to buy a new property and may be tempted to begin the search for their new home before listing their current one on the market. Due to the speed and competitiveness of the market, agents are reporting that it continues to be of high importance for those actively looking to become ‘power buyers’, to give themselves the best chance of securing their dream home. This means making sure they have their current property on the market or preferably sold subject to contract before beginning the search for their next home.”
Tim Bannister concluded by saying; “This spring is certainly shaping up to be a busy one, with buyer demand, new listings coming to market for sale, and valuation requests to estate agents from future sellers all continuing to increase compared to last year. Gardens are likely to be high on the list of priorities for home-movers, as outdoor space continues to be a strong consideration factor when deciding on a next home.”
At Coakley & Theaker, we aim to support the local community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today by calling us on 01284 769691.