< Back to blog

End of homeschooling to increase the number of properties coming to the market Posted On 24 February 2021

Buyer demand and house prices rising and new properties coming to the market are expected to rise in line with the schools going back

 

The latest study by Rightmove shows that demand from buyers is growing, with numbers so far this year way ahead of last year, however, buyer demand is outstripping new supply. The number of people contacting estate agents to buy is up 18% compared to this time last year, and the number of website visitors is up by 45%.

Because of this high buyer demand outstripping new supply, it isn’t a surprise to see house prices rising too. Asking prices are up by £1,500 compared to last month, which is the first increase for four months. The number of new properties coming to the market is down by 21% annually, however, one of the main reasons for this may be that families who are homeschooling – eg, everyone – are delaying coming to the market.

So, on March 8th, or even before now we have the roadmap, expect the numbers of properties coming to the market to rise. The Stamp Duty Holiday could still possibly be extended, however, it is clear that the stamp duty holiday is a perk and not one of the main reasons for people to move.

The lockdown effect – people looking for properties with office space and more garden space – is a definite factor though for people to move. Also, with more people working from home, fewer people are tied to where they live.

Rightmove’s property data expert Tim Bannister says, “Last year the market was unexpectedly buoyed by buyers’ determination to move and satisfy their new lockdown-induced housing needs. We may well be seeing a continuation of that this year.

“As well as the current lockdown motivating buyer demand again, the restrictions have also been a factor in limiting new supply, leading to some modest upwards price pressure. These are strong signs that new buyer demand is not facing a cliff-edge after the 31st of March.

“So far in 2021, home-schooling has taken priority over home-selling for some people. Family properties are suffering most, with the difficulty of preparing a property for marketing and viewings while it’s in use and occupied 24/7 by the whole family likely to give you cause to delay.”

< Back to blog

Connect with us

Recent Posts

Don’t Wait for New Years

Raise a Glass this Friday to celebrate International Champagne Day   Champagne may be French but the idea behind Global Champagne Day (this year to be celebrated on the 22nd of October) began in America in 2009 – started by an American blogger, Chris Oggenfuss, who wanted to honour the wine of kings. Champagne is …

Read more...

Mortgage Appraisal

How to increase your Home’s Value   When you make the exciting decision to sell your home, it will be appraised to determine its current market value. You want to get the best possible price for your home, so it needs to be ready for the appraisal.   The appraiser will look at factors such …

Read more...

How To Avoid Common Pitfalls When Selling Your Home

A guide to make the Process as simple as Possible   Congratulations! You’ve made the exciting decision to sell your home! This process can be time-consuming and emotionally challenging. Strangers invading your home and criticising your choice of wall colour or carpet style can feel offensive and it’s hard not to refrain from asking them …

Read more...

Embracing The Cosy

Your Autumn style Fix   Autumn officially began two weeks ago and whilst we are still being treated to the occasional kiss of sunshine, it is time to indulge in the cosiness that comes with the autumnal season. After a year in tracksuits and lounge/athleisure wear, this autumn presents the perfect opportunity for some fearless …

Read more...

Wake Up and Smell the Coffee

Sip your Favourite Beverage this Coffee Week   The UK’s Coffee week begins on Monday 18th October this year and is a period where coffee shops, restaurants, roasters, and their customers come together to raise funds for Project Waterfall – a charity working to end the water crisis in coffee-growing communities across the world. By …

Read more...