Buyer demand swells
In this speed read, we reflect on the figures behind the huge current demand for property
- The property market continues to ride the wave as we head into autumn. Buyer demand per property is more than double pre-pandemic levels (Rightmove).
- Rightmove report a 14% increase in new listings at the start of September*, but the number of available properties for sale remains low and competition for properties remains strong.
- 37% of properties sold for above their initial asking price in August, with an estimated 19 buyers per available property currently on the market (Propertymark).
- First-time buyers, cash buyers or those buyers who are already sold subject to contract are in the best position to benefit from current market conditions.
- Source: Dataloft, Propertymark, Rightmove, *First two weeks September v final two weeks of August 2021