Home hunter demand sets record in 17 years: Propertymark

Housing demand for the whole of 2021 saw an average of 459 registered house hunters per Propertymark member estate agency – the most since 2004, when the 12-month average was 475.

However, although January 21 was home to an average of 38 properties per branch – which Propertymark describes as a healthy situation – this has dropped to 19 homes per branch by the end of the year, an all-time high.

Another record was set for agreed sales. In March, April and May, an average of 12 homes sold per branch, which is the highest since 2007.

And, according to the report, since 2013, sales “have mostly been agreed at below asking price…however, a change in March 2021…sees most homes being offered for sale at asking price or higher.”

He adds that the use of sealed offers has increased “to respond fairly to demand”.

Propertymark Managing Director Nathan Emerson comments: “[Last year] has seen huge demand from buyers looking to change location, occupation, type and size of property and motivated by seeking a lifestyle change. Traditionally, the summer months mark a drop in demand, but 2021 has defied all the rules we’ve grown accustomed to.

“In 2022, demand continued into January, but the number of homes on the market still needs to increase.

“There is a concern that although those looking to move are aware that they can get a good price for their home, with the rising cost of living, utilities and rising property prices , consumer confidence is starting to take a hit.”

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