Activity surge by new buyers, despite slim chance of beating tax deadlines
The Rightmove House Price Index was released to the media this morning and gives a national picture of house prices and activity over the past few weeks.
- Average price of property coming to market falls by 0.9% (-£2,887) this month, with some new sellers still hoping to tempt buyers and squeeze in a sale before the stamp duty holiday ends
- New buyers unlikely to beat the deadline as average time to complete a purchase is now over four months
- Logjam update: mammoth 613,000 sold subject to contract properties still awaiting legal completion, with Rightmove projecting around 100,000 will face an unexpected tax bill as they miss the 31st March cut-off
- Nevertheless, visits to Rightmove are up by 33%, the number of buyers contacting agents is up by 12% and the number of sales agreed is up by 9% for January so far compared to the prior year
- Despite temporary market closures in 2020, people’s housing needs meant the number of sales agreed was up by 10% for the whole year versus 2019
More agents are now offering online viewings to help people find their next home safely, with homehunters encouraged to shortlist properties before choosing which ones to go and see in person.
To access the full Rightmove House Price Index, Please Click Here