Jeremy Leaf, former RICS residential chairman, explains: “The increase we’ve seen recently in the number of buyer enquiries, sales agreed and transactions has persuaded many sellers to raise asking prices, particularly while stock remains low.”
Jeremy continues: “The faster rollout, especially of second doses of the vaccine, is prompting more appraisals and listings but not at quite a fast-enough pace yet to bring more market balance and keep a lid on prices.
“We expect momentum to ease once stamp duty relief is tapered from the end of June, although the availability and low cost of credit, as well as the government’s new mortgage guarantee scheme, are likely to result in a price softening rather than a correction.”
Ged McPartlin Managing Director of Manchester, Leeds and Liverpool estate agents Ascend Properties has seen exceptional levels of buyer activity across the North and observes: “At the rate the current market is moving, there will be no houses left to sell.
“It’s great to see the North is the engine room powering this immediate market performance with some astonishing nine percent plus annual rates of growth in both the North West and Yorkshire.