The Dataloft Demand Index shows a 36% increase in housing market demand since the start of 2021 with the traditional Spring market set to be busier than ever.
Demand rose 13% between February and March, with Rightmove reporting sales in the first week of March up 12% year-on-year. The number of buyers enquiring per available property was 34% higher.
Lockdown 3 has exacerbated the supply/demand imbalance across the market place currently continuing to support property price growth.
But with lockdown restrictions starting to ease and incentives to move, all eyes will now look to whether new supply starts to increase. Source: Dataloft Demand Index, based on visits to agents’ sites displaying Dataloft Inform local insights each week.
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As we enter spring, the average UK house price is £232,134, up 6% on March 2020. Transactions are 49% higher than last year, reflecting a surge in sales agreed in summer and the rush to beat the SDLT holiday.