Demand for homes at historic highs

Demand for homes is at historic highs; the number of prospective buyers getting in touch with estate agents about properties is almost double the recent average, says Zoopla, and supply is low.

Here at Preston Baker we are seeing the results of this high demand; we have buyers looking for homes across Leeds, York, Selby, Doncaster and surrounding areas.

At the beginning of 2022 there were 350,980 properties for sale across the UK, according to consultancy TwentyCi; that’s 36% less than at the beginning of 2020, and the lowest figure since the company starting collecting data in 2008.

The Covid pandemic has also caused a shift is what buyers are searching for. Larger homes with gardens and spare bedrooms that can double as home offices are highly sought-after.

At the start of 2020, two-thirds of homes that were for sale had been listed for six months or over, according to TwentyCi. In January 2022, less than one in five had been on the market so long. Now roughly half of homes sell in under eight weeks and a quarter are gone in less than four.

If you are thinking of moving, you need to be in the best possible position to proceed in this highly-competitive market. This means getting your house listed.

Thinking of moving and want to know how much your house is worth? Get in touch with Preston Baker now for a free property valuation.