According to data release by Rightmove, there is more property stock coming on the market for sale, which is helping the rise for demand.
The property listings site reckons there are 6.6 per cent more one and two-bed homes available, and it’s at its highest rate since 2007. This is good news for people looking to buy smaller homes, such as first time buyers.
One of the reasons could be the new government tax and stamp duty increases coming up this April. Landlords or anyone with more than one property may be selling up as a result.
Miles Shipside from Rightmove had this to say on the subject: “Encouragingly for first-time buyers there’s more fresh choice with more property coming to market in their target sector. With their asking prices pretty much the same as a month ago, perhaps the knock-on effects of the more punitive landlord tax regime have arrived early and they now face a dilemma over whether to buy now or wait to see if prices drop in this sector over the next few months.”
While rising supply is a positive, prices remain stable or slightly up, according to Rightmove’s monthly price index. The site shows that asking prices went up 0.5 per cent in January 2016, the second highest rise in eight years.
Selling? We can help. Call Outlet on 020 7287 4244 or visit us at outlet4property.com for more information or a free, no obligation valuation.