According to Rightmove’s March house price index, the spring has shown the strongest market for sellers in the past decade.

This is probably not surprising with the recent announcement of the extension to the Stamp Duty Holiday and introduction of 95% Loan To Value mortgages, but certainly makes for a busy time for us mortgage brokers!

Commentary from Rightmove outlines how:

“The average price of property coming to market rises by 0.8% (+£2,484) this month as buyer demand reaches record levels.

With demand being driven by the side effects of the lockdowns and the additional spur of government incentives, we anticipate further price rises during the traditional spring selling season.

For those owners who are thinking of coming to market, the current excess of buyer demand over supply is the largest we’ve seen in the last ten years and suggests that this could be one of the best ever Easters to sell.”

The report outlines how the rolling annual price change nationally is at 2.7%; slightly lower than the 3% from February.

Interestingly, when we look at mortgages, the strong market has led to a five year high – with net borrowing being £6.2 billion in February, the strongest since March 2016!

In our opinion, now is an excellent time to buy! Provided that you can complete before the cut off for the stamp duty holiday there are savings to be made.

If you are purchasing a property and have any questions, then we will be more than happy to help where we can. You can either call us on 01322 553282 or contact us online.