3 statistics which prove NOW is the perfect time to put your home up for sale...
Three major statistics in the world of property sales have all confirmed that now may be the best time to start the process of moving home…
Spring has long been thought to be the best time to get on the market, and with the uplift we’re seeing in the 2024 property market, you may need to make your move now in order to hit the market at the best time. So, if you’ve been holding back on taking that final jump and contacting an Estate Agent, this may convince you to go for it! We’ve compiled three statistics to back our claim up, all pulled from Zoopla’s Property Index or Zoopla Property Updates…
1. There’s a rebound in sales volumes
The housing market is seeing a sustained uplift in new property sales, with 12% more agreed sales than a year ago.
The number of agreed sales has now been higher than the same time last year for 4 months running.
2. The sales pipeline is rebuilding
The sales pipeline, where we track the number of homes moving through the sale process, is also rebuilding. This comes after a period of fewer sales when mortgage rates jumped in 2022 and 2023.
Data shows that the housing market is on track for 1.1 million sales completions in 2024, a 10% increase on last year.
3. Mortgage approvals have now reached pre-pandemic levels
The recovery in sales numbers is starting to be reflected in other housing data, such as the number of mortgage applications being approved.
According to the Bank of England, there were 32% more mortgage approvals in February 2024 than a year earlier. This is a return to pre-pandemic levels!
In addition to the above stats…
According to the latest GFK consumer confidence survey, buyers are currently more confident in their finances than they have been for the last 2 years, which translates to more serious inquiries and potentially faster sales. By capitalising on the current market positivity and the appealing aspects of selling in the spring, you can maximise your chances of securing a successful sale!
So, if you are contemplating selling your property and have been waiting for the right timing, don't delay. We specialise in people, so we can help guide you from start to finish, and give you support in making the move as easy and seamless as possible.
Call 01843 222701 or email client.services@oakwoodhomes.biz.
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