If you’ve decided that this is your year to move, you’re not alone… more properties are needed!
Home-hunters up and down Great Britain have started 2021 thinking about moving, and in fact, the market has just witnessed its busiest ever January on record.
January 2021, the main property portals saw over 211 million visits from home-movers – a record for this time of year.
The amount of time that people spent on property websites last month totaled more than 1.6 billion minutes, which equates to over 3,000 years collectively!
This is up by 44% compared with January 2020, and the busiest day was Saturday 30th January, when home-hunters spent over 60 million minutes searching for their next home.
There are also strong signs of a number of new buyers just starting out on their search in 2021 with 7% more buyers contacting estate agents via Rightmove than in January 2020.
However, the number of new properties coming to market is not satisfying the increased demand from buyers. We know that the challenges of lockdown and trying to homeschool while also work full-time has made it really difficult for some people to have enough time to think about moving.
This has led to there being 21% fewer new properties coming up for sale compared to this time last year. It’s worth noting that this time last year there was a boost in activity after the election so we are comparing against a busy month.
Our clients benefit from our online viewing option and HD Property Films which often mean that only seriously interested visitors confirm a physical viewing.
Mike Crane explained that buyers may have more properties to choose from when schools reopen,and parents have more time to get their homes ready to sell.
He said: “It’s clear that more people than ever before used the new year as a chance to start thinking about moving home, despite all of the challenges and worries that came with January and February, but we are seeing the effect of lockdown on the number of properties coming to market.
“I know how hard it is right now to juggle your work commitments with also trying to teach your kids their times tables, so those looking to trade-up to a bigger home may find there isn’t as much choice as before in this sector of the market until children start going back to school.
“The Chancellor’s announcement to extend the Stamp Duty concession comes as welcome news to the thousands of buyers and sellers currently in the process of moving home.
“The start of March so far looks encouraging for activity, which points to some positive signs for the next few months and into Q2.”
Crane & CO – Rightmove’s No.1 Local Estate Agent
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