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Whites word on the Spring Property Market Tuesday 22nd March 2022

Whites word on the Spring Property Market

Spring has sprung and houses are in demand both to let and to buy!

From looking at Rightmove stats you can quickly tell, that for those looking to sell this is the best ever spring market.  

This is due to the biggest mismatch between supply and demand for this time of year EVER recorded with MORE THAN TWICE AS MANY BUYERS AS SELLERS.  In addition, the chance of finding a buyer in the first week is the highest ever, and twice as likely compared to same period in 2019.

As a result, this sent prices soaring and reaching a new record high for the second consecutive month, with the national average now being £354,564. This month’s 1.7% (+£5,760) increase is the largest at this time of year since March 2004. Rightmove stats show that in the South West sales are up on average 14.5% year and year, with the average sales being agreed in 30 days.

Talking to Tony, Head of Sales,he believes: The market will continue to be strong this year but suspects that next year the brakes will come on. “At the moment buyers so outweigh sellers that I cannot see any reason, even with rising general costs, Ukraine, and rising interest rates, that we will slow down. Currently we are listing correctly priced properties, which will sell within a week with multiple viewers and mostly multiple offers. We never list anything now without the term ‘guide price’. Fundamentally we have way too many people living in the UK for too few properties. We have buyers pouring out of the cities to ‘buy twice the house at half the price’ who can work from home and the older generation who are moving to be near children, all of whom bring good money with them and don’t haggle over the asking prices. Property prices will therefore continue to rise this year and I suspect by around another 10%.”

So why not make your move in 2022!?! Talk to us now to start your property journey. At Whites we offer a FREE valuation service or are very happy to just offer a little property advice, simply call us on 01722 336 422 or email residential-sales@hwwhite.co.uk


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