2021 sets record high for house prices in the market
Average house prices hit record highs this summer according to the Halifax House Price Index, giving an annual increase across the country of 7.4% and taking the average UK house price to just over £267,000. September’s monthly growth of 1.7% was the strongest seen since 2007.
Contributing to this busy market is the number of people wanting bigger gardens, an extra bedroom, or simply more space (especially to work from home), and this is not expected to change anytime soon. In turn the trend of ‘chasing more space’ will continue to bolster demand from buyers and underpin prices moving forward.
Fewer properties available
However there are now fewer properties coming to the market which means it’s even more competitive for buyers wanting to secure their next home before someone else gets there first.
Get ahead of the market
The best way to get ahead of the market is to speak to estate agents in the area you’re looking to buy as they’ll be the first to know what’s about to come on the market. More and more homes are selling before they appear on the internet portals – so scouring Rightmove, Zoopla, Boomin and OnTheMarket could still mean missing out.
One of the area’s leading agents, Henry Adams, has introduced a ‘Head Start’ service for buyers who know what they’re looking for locally. They’ll use technology to pinpoint suitable homes and then contact the owners so you can be sure of being first through the door if the property comes on the market. The result is less stress for both buyer and seller.
Buyer demand now more evenly spread
Traditionally the housing market is most active in springtime but activity these days is more evenly spread throughout the year. This steadier trend in buyer demand is also expected to continue over the next 12 month period according to the September survey of the Royal Institute of Chartered Surveyors (RICS).
With so many registered buyers looking to buy their next home this autumn, now is a good time to get a property on the market to secure an early sale, and start 2022 in your next home. www.henryadams.co.uk