For sale sell house uk housing market uk house prices

Housing market is seeing strongest spring season for sellers in a decade

Rightmove data shows there is a surging level of demand in the UK housing market, making for one of the strongest starts to the spring season. What does this mean for buyers and sellers?

A record number of prospective buyers are enquiring about properties on Rightmove. Demand in the housing market is 34% higher than the strong pre-lockdown market from a year ago. At the same time, supply is remaining low.

Currently, the growing demand is outstripping the number of homes on the market. This is happening by the most substantial margin at any point over the past decade. The current market conditions is making it one of the best sellers’ market of the past 10 years.

Asking prices are on the rise

The average asking price of a property going up for sale has increased by 2.7% in the last 12 months. This has increased the national average to £321,064. Additionally, asking prices grew for the second month in-a-row. A rise of 0.8%, or £2,484, was recorded in March.

Fewer properties are being put on the market. However, the number of sales agreed in the first week of March was still 12% higher than a year ago. Nearly two out of three properties currently on estate agents’ books are sold subject to contract.

Rightmove’s resident property data expert Tim Bannister says: “Whilst it is unfortunately not the perfect time to buy for some people who have been adversely affected by the pandemic, the record buyer demand measured by Rightmove indicates that now is the right time for many.”

With such a strong number of sales agreed in recent months, there is a shortage of homes available to purchase. In February, the number of new listings dropped by 20%. However, more properties are starting to be put up for sale.

Greater supply would ease the upwards pressure currently on house prices. There are early signs that more people are putting their properties on the market. This will likely pick up once the lockdown restrictions start to ease.

“Blossoming buyer demand coinciding with blossoming gardens should put a spring in the steps of sellers, and more of them coming to market will provide a much – needed increase in the choice of property for the many who are looking to buy,” Tim Bannister explains.

What’s behind this growth?

Measures announced in the Spring Budget, which included the stamp duty holiday extension and the mortgage guarantee scheme, has boosted the housing market. Since the day of the announcement, Rightmove has seen a spike in online property searches.

Tim Bannister comments: “Concerns of a cliff edge for the housing market at the end of March have dissipated, partly due to the tax deadline extensions in all of the UK bar Scotland. Strong buyer demand will be further boosted from April by the new Government guarantees enabling lenders to return to the widespread availability of 5% deposit mortgages.”

“Record low interest rates and the new focus on what your home needs to offer after several lockdowns have led us to the greatest excess of demand over supply in the last ten years. This strong sellers’ market is good news for those who are looking to put their home on the market as the traditional Easter selling season approaches.”

Will this strong demand lead to delays?

There has been a backlog of property transactions due to the stamp duty holiday. It was welcome news for many that the stamp duty holiday was extended and given a tapering end. However, the strong buyer demand is expected to continue to cause delays. Lenders, conveyancers and surveyors have been under pressure to keep up.

Comparison website GetAgent recently revealed the average time it takes to accept an offer is down by 14 days. However, it’s taking an additional 43 days longer to sell a home. GetAgent looked at the time it takes from the initial listing to Land Registry recording the sale as complete. The data show it’s now taking an average of 295 days to sell a home.

Colby Short, founder and CEO of GetAgent, comments: “It’s now taking more than six weeks longer to complete a sale than it was the previous year and this can feel like an eternity as anyone who has bought or sold a house will tell you.

“Unfortunately, there isn’t much you can do to bypass this backlog other than sit tight and be patient. At least, at present, those currently delayed will have the reward of thousands saved in stamp duty when they do finally come to their completion date.”

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT