The demand for properties is picking back up and has been increasing exponentially in February. This meant that in January, half of all properties where sales were agreed were snapped up within three weeks of coming to the market, compared to a third of homes during the same period in 2021. However as the demand is currently greater than supply the house prices have now hiked by by nearly 8% which is a rise on average, of about £80,000. The sheer level of activity in the market in recent years eroded the stock of homes for sale. Rise in new supply indicates green shoots of recovery for stock levels, with new listings rising for every house type in the first two months of the year compared to 2021.
Have you been investing?