Could we see more homes for sale this summer?

Wed, 20 Jul 2022 | Market update

If you were looking for a sign that it’s time to sell your house in Berkshire, Surrey, or Hampshire, here it is: Rightmove has revealed that we are starting to see more properties come to the market and early signs that this could continue into the summer. More properties equals means more choice for your onward purchase – so if you were waiting until more options came on the property market to sell your home, now is your time to make a move!

According to Rightmove, 14% more properties were listed for sale in the last two weeks compared to the same period in 2021. With supply so low this year, house prices have broken records for five consecutive months, so this increase in properties listed on the market is a welcome relief and expected to somewhat relieve the pressure on the property market.

Additionally, the major portal reported that on 22^nd June, they saw the highest number of valuation requests since May 2021. This was also the fourth busiest day for valuation requests ever recorded by Rightmove! As a valuation requests are often the first step that sellers take before putting their property on the market, we have reason to expect a rise in properties coming to market in the next couple of weeks. It seems that the property market might be reflecting the weather this summer – we’re in for a hot one!

Will this impact demand?

Though demand is beginning to slow down, it still remains high – over 113% higher than the pre-pandemic five year average, to be exact! This means that even though supply is on the increase, demand is still outweighing the number of properties on the market. Competition is therefore still fierce, so you’ll need to put yourself in a proceedable position if you want to be in with a chance of securing your dream home.

Additionally, in a Rightmove survey, it was revealed that 83% of the portal’s audience is open to moving, suggesting that sellers on the portal will have a captive audience. It’s not just people idly surfing the web for their fantasy homes – the vast majority of Rightmove users mean business!

What’s more, prices remain at an all time high, so if you sell now, you’ll be likely to achieve asking price or above for your property while also enjoying more choice for your onward purchase. A win-win situation! We’d recommend acting soon though, as high demand won’t last forever.

With this in mind, isn’t it about time you put your property on the market? Book a valuation with your local experts today by clicking here. You can also register with us to find out about the latest properties on the market before anyone else.