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Record Number Of Homes Sell Above Asking Price

record number of homes sell above asking price

According to the most recent market snapshot from NAEA Propertymark one in three properties sold for than asking price last month – an all time record high!🏡

Record breaking figures!

To be precise 32%, which is actually twice of what was recorded the month prior making it the highest figure on record, beating the previous record of 19% dated all the way back in May 2014 .

The Propertymark statistics also suggest that the average number of potential buyers registered per branch reached a record breaking 427 in April. The highest figure recorded in April since 2004. Here at Miller Metcalfe, we registered an incredible 1355 potential buyers in april alone! More buyers = More eyes on your property!

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More buyers searching

Mark Hayward, Propertymark’s chief policy advisor went on to state:

“It is phenomenal to see demand for housing breaking records, as house buyers continue to fuel the post-Covid economy. However, the continued imbalance of supply and demand is a concern and has led to a strong sellers’ market with properties being snapped up quickly at high prices”.

“We look forward to the much-needed rebalancing of the market, and we hope the Planning Bill outlined in the Queen’s Speech encourages the development of more housing, particularly in more affordable areas, as most of the development taking place is in areas that are unaffordable to first-time and lower-income buyers, although the government’s First Homes initiative will be a much-needed boost.”

You can speak to some of our property experts to get an understanding of how long it generally takes to sell a property in the local area before putting your property on the market. Miller Metcalfe have 18 hubs across the North West, contact us today. Visit millermetcalfe.co.uk to find your local branch!

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