Friday News #099 – Property Market Busiest in 10 years as Buyer Numbers Hit Record High

Friday News 19th March 2021

For those with the means to do so, it is an opportune time to invest in UK property with many factors working in an investors favour. However, in a busy and competitive market, there can be a risk of overpaying or not securing the best property.

With market conditions as they are, it’s never been more prudent for an investor to seek professional advice from those who are constantly assessing the available options and analysing local and national trends to ensure their clients can make well-informed decisions.

Here’s what we’ve seen in the news this week:

Property market busiest in 10 years as buyer numbers hit record high: The UK is experiencing “one of the busiest markets in years” as the number of buyers enquiring about each home for sale hit a record high. Prospective buyer numbers are 34 per cent higher than a year ago, before the lockdown in the housing market when the country was still in the midst of the so-called ‘Boris bounce’, following the decisive Tory general election win. Read more. 

Rental growth reaches a record 8.0% outside London: Rental growth outside London has hit 8.0%, the highest figure ever recorded by the Hamptons monthly letting index. Read more.

The cities in the North and Midlands where house prices are forecast to soar: The pandemic has helped drive a steep fall in London’s population for the first time in 30 years. Analysts from the Economic Statistics Centre of Excellence suggested that 700,000 people left the capital last year, equal to 8pc of the population – which has led to a dip in demand for homes. But not everyone is abandoning city life: other British cities are experiencing their highest house price growth for a decade. Read more.

Average property prices rise marginally between February and March: The average price of a property coming on to the market has risen by 0.8% or £2,484, between February and March according to the latest Rightmove House Price Index. Read more.