Looking to move this February? More properties are coming to the market this month, providing buyers with more options. This is great news if you are looking to relocate right now.
This will come as a sign of relief to many, after demand continuously outstripped supply in the last year, resulting in a turbulent property market. According to property portal Rightmove, the number of homes on the market is up by 8%*, which makes a refreshing change for many buyers.
While the low number of available properties may have been daunting to those looking to relocate this year, things are starting to look up, and there are signs of new homes coming to market shortly. In the first working week of 2022, the number of requests for estate agency appraisals was up by 44%* according to Rightmove’s latest House Price Index, showing promising signs of a more fruitful market this year.
According to Rightmove, this new influx of sellers coming to market is set against a backdrop of record high buyer demand, which is up 35% in the last 12 months. ** After a busy festive period, it is encouraging to see more properties coming to sale, showing positive signs of a more balanced market in 2022.
New sellers will be met with eager buyers, waiting to snap up properties, with data showing record-high numbers of people are looking to move this year. Buyers will face stiff competition for available properties and are encouraged to act fast if they see a property they like, as they are likely to be snapped up quickly.
*Rightmove’s latest House Price Index
**According to Zoopla’s latest House Price Index