Is Now The Time To Sell? House Prices Hit All-Time High
The property market has been a whirlwind for the past 12 months, and the Coronavirus pandemic has had an unexpected effect on house sales. As lockdown begins to ease and people are welcoming back their freedom, many are using this time to find their next dream home. Remote working, demand for outside space, and more time than ever at home have all played a critical role in homeowners deciding it is time for something new. Many are looking to move away from big cities and enjoy more space, while others are searching for properties with a home office, a gym or a large garden for entertaining friends safely.
As a homeowner, putting your property up for sale at the right time is crucial. It can be the difference between making some money on your investments or not, and can play a big part in how long your home is on the market for. This Spring is set to be the best time to sell in over ten years, as the property market thrives from the stamp duty holiday, rising demand, and sky-high prices.
The Strongest Property Sales Market In Over A Decade
If you have been considering putting your house on the market, then right now might be the best time for it. Property prices are 6.5% higher than this time last year, and the average house price is now an impressive £254,606. This average house price is a record high and means that during the pandemic, prices have risen by more than £15,000. Halifax's House Price Index has revealed that property prices are still growing, with prices 1.1% higher in March 2021 than they were in February. This was the first monthly growth since November, but the market is showing no signs of slowing as many homeowners are still looking to move this Spring.
We are experiencing house prices rises during a recession for the first time in modern history. This momentous occasion is mainly down to the fact that people's desire to move has far outweighed their uncertainty surrounding finances and jobs. Government support has been a key player in supporting the housing market throughout the pandemic, with moves like extending the stamp duty holiday encouraging homeowners to sell up quickly. Many are taking advantage of the enormous savings they can make by moving before the stamp duty holiday is over. It is thought that a lot of homeowners considering selling in the next few years have moved their plans forward.
The massive rise in demand is currently outstripping the number of homes that are on the market, making it one of the best sellers' markets the country has seen in a decade. This is the case right across the country, but some areas are seeing far more significant increases than others. Savills have revealed that the North West is likely to see property prices rise by a whopping 28.8% between now and 2025, while Yorkshire and the Humber could increase by 28.2%. London is on track for the lowest growth but still expecting a pricing increase of 12.6%.
How To Sell Your House This Spring?
If you are considering making the most of the strong property market this year, then you might be looking to sell your house as quickly as possible. Properties notoriously take a long time to sell, but the current market is seeing reduced sales times due to the very high demand. However, with the stamp duty holiday, lockdown restrictions and other factors, processing property sales is taking a long time. If you have found your dream property and need to sell your home, or just looking to quickly make the most of the sky-high prices and sell a second home or investment property, you might be wondering how to sell your house quickly this Spring.
Here at House Buy Fast, we are able to purchase any home in as little as three days. No matter which stage of the selling journey you are at, our team of property experts are here to help. For a super-fast sale, we can sell your house for up to 85% of the current market value in 3 days to 3 weeks. If you have a little bit more time, we can help you sell in 6 weeks to 6 months for full market value. In the current climate, selling fast is a priority for many homeowners, and we can help to make that happen.