Spring surge to give property market a bumper March – Rightmove - Mortgage Solutions

March is the best month to sell a home as spring ushers in a wave of prospective buyers, with this year set for a bumper surge in activity, analysis has found.

New listings are also highest in March, but the strong demand prompts competition to peak which gives the best chance of making a sale.

The ‘spring surge’ has already started to gather momentum this year with new listings up 11 per cent and buyer demand rocketing by 32 per cent in the last three weeks compared to the same period last year.

Home valuation requests to estate agents are also up 27 per cent since the start of the year compared to the start of last year, Rightmove said.

Buyers are particularly keen for outside space, with searches for gardens up 70 per cent in two years.

Around three quarters of all properties are currently successful in finding a buyer, compared to a historical average of around half, and homes are finding buyers in an average of 39 days, compared to an average of 59 days over the last five years.

Tim Bannister, Rightmove’s director of property data, said: “Spring has long been known as a peak point in the housing market calendar, with many buyers and sellers trying to get into a new home for the summer months.

“For any sellers who might be conscious of coming to market at a time when the number of new listings has traditionally been high, the data shows us that the level of demand in March means sellers are likely to be met with multiple potential buyers competing for their home.

“Those thinking of selling are also likely to be aiming to buy a new property, and may be tempted to begin the search for their new home before listing their current one on the market.

“Due to the speed and competitiveness of the market, agents are reporting that it continues to be of high importance for those actively looking to become ‘power buyers’, to give themselves the best chance of securing their dream home. This means making sure they have their current property on the market or preferably sold subject to contract before beginning the search for their next home.”

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