Mission Possible: Record-breaking demand

April 22, 2021

Market comment from Managing Director, Stephen Tetlow.

My apologies if this message is seeming like a broken record, but the current demand in the local property market is simply staggering.

Wednesday 7th April saw another new Rightmove record. It’s a record that keeps being broken of late, with more visitors to the site than ever before (9.3 million)!

More homes have been sold within a week than ever before. Buyer demand is proving a huge and unstoppable force, and the supply is simply not enough. The proportion of available property to that which is sold stc, matched with the incredible demand, is the lowest Rightmove has ever seen.

The growing optimism surrounding the vaccine rollout, the country beginning to ‘unlock’, combined with the sunnier weather and longer days has undoubtedly contributed towards this additional rise in demand.

The number of sales agreed can’t be reasonably compared to this time last year, owing to the fact that the industry was at an effective standstill last April, but if you go back to 2019, sales agreed this month are up by 55%!

This is all mirrored in the lettings market, which, since at least this time last year, has suffered a severe lack of supply to meet the growing local demand.

To make the most of this buoyant market and to make your move, Mission: Possible, please speak with your local Mackenzie Smith team, who are ready to help, in line with covid guidelines.

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