Rightmove See Huge Rise In Interested Buyers Contacting Estate Agents | Lodestone Property

Rightmove have reported that ‘Budget Day’ was the busiest day yet for the online platform and ultimately the housing market, as buyers and home-owners rushed to make use of the extended stamp duty holiday and 5% deposit saving.

Rightmove recorded that 9 million home-hunters spent a record 71 million minutes on the Rightmove website on the 3rd March. 82% more interested buyers contacted Estate Agents than on the same day last year!

The number of buyers enquiring about each property for sale on Rightmove is the highest ever measured. This is the greatest excess of demand over supply our team have seen over the past ten years, pushing up the average price of property coming to market in the South West by 1.5%.

The start of the traditional spring home-moving period saw the number of sales agreed for the first week in March up by 12% on last year (2020).

High levels of buyer demand have a clear correlation with high levels of sales being agreed by estate agents, and this record demand means that almost two out of three properties (62%) currently on agents’ books are now sold subject to contract.

Experts are saying that properties need to come to market now in order to make use of the budget savings the Government have set out. So now is the time to sell!

Key dates for the diary:

Nil rate stamp duty on property up to £500,000 extended to 30th June.
Nil rate stamp duty on property up to £250,000 extended until end of September
Mortgage guarantee scheme to help buyers with small deposits will make 95% mortgages available from April on homes up to £600,000.

Read more here. 

Featured property in picture: Templemans in Coxley Wick near Wells

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