Is It Still A Great Time To Sell?
Supply/Demand imbalance are still creating upward pressure on prices!
UK house prices are generally continuing to climb, and this despite a roller coaster year in 2020.
The main driver of this upward pressure on pricing is a continued rise in demand. Buyer demand in the first two weeks of the year was 13% higher than the start of 2020 (and that was a very busy time in the market). At the same time, the new lockdown enforced after Christmas means that many sellers are pressing pause on their sale.
This means that new supply of homes listed for sale is down 12% year on year. We expect these homes will come to market once Covid-19 case numbers start to decline, and lockdowns begin to ease, but in the meantime this imbalance is putting upward pressure on prices.
House price growth could rise by up to +5% in the coming months before easing later in 2021. Why don’t you beat the curve and get your property up for sale now to take advantage of that pent up demand. What will you do with your valuation?
www.tpsne.co.uk/book-a-valuation/
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