With demand outstripping supply in the housing market, it is vital we see more homes come to the market. This is why it is so positive to see Propertymark figures suggesting housing market instructions have risen.
If you are looking to sell your home, contact Williams of Petersfield, and we will be more than happy to assist you.
Highlights from the most recent Propertymark findings include:
- An increase of 80% for new instructions per branch
- Numerically, the increase was from five in December 2021 to 9 in January 2022
- The number of registrations for property searchers increased by an average of 100 members per branch
- This increase represents double the number of registrations for house hunters in December 2021
- 37% of listed property selling above the asking price in January 2022
- In December 2021, only 25% of listed properties sold above the asking price, and in January 2021, only 9% sold for higher than the asking price
Nathan Emerson, Propertymark CEO, said: “Our latest housing market report paints the positive picture that our member agents have been hoping for, which is the much-needed increase in the number of properties coming to the market. There is certainly no let-up in demand, but the supply line appears to be recovering at a quicker pace and edging towards a rebalancing of the market. This is welcome news on the back of stock levels that had declined to record lows throughout last year against the backdrop of escalating demand.”
Nathan Emerson concluded by saying; “Our figures coupled with those published elsewhere do also point to a slight cooling in house price rises. But we remain in a strong sellers’ market and anyone thinking about selling should act now with confidence as we head towards spring which is traditionally a busy time.”
What else is happening in the housing market
Other findings in the study include:
- Average number of properties available per branch was 19 in January 2022, this is a historic low
- The average number of prospective buyers per branch was 29 in January 2022, this is a historic high
- There was a 40% increase on month-to-month sales in January 2022
- First-time buyer sales made up 29% of all sales in January 2022
- The number of purchases made by first-time buyers in January 2022 was an increase of 107% on December 2021 figures
With properties for sale being at an all-time low and prospective buyers per branch being at a record high, you don’t need to dig too deep to see the challenges of the property market.
If you are contemplating selling your Petersfield home, we are the agents you can rely on. We are more than happy to arrange a property valuation for you, and this will provide you with the platform for selling your home.
Contact Williams of Petersfield for all your 2022 housing market needs
At Williams of Petersfield, we aim to support the Petersfield community as much as we can, and we know this is an extremely trying time. A lot of people are looking for support and guidance, and if you have any property or housing related questions, we are more than happy to assist you, so contact us today.