You are here: Home - Mortgages - First Time Buyer - News -

Quicker house sales as buyer appetite grows

0
Written by: Shekina Tuahene
27/08/2020
The average number of days it takes to sell a home has shortened to 27 days from 39 days during the same period last year, Zoopla’s house price index for July showed.

The desire for more personal space has led to houses selling faster than flats with a three-bedroom house selling in 24 days, compared to a three-bedroom flat which on average took 31 days to come off the market. 

Buyer demand is “unseasonably strong” Zoopla saidwith data showing that appetite for the year rose 34% compared to the first eight months of 2019.

The number of new sales agreed on the portal is also 76% ahead of its five-year average. 

Sellers are responding to the demand as the number of homes coming on to the market is up 50% on July last year. 

As for house prices, they are expected to remain fairly flat as Zoopla predicted a two or three per cent growth on prices compared to the start of the year. 

In July, annual house price growth slowed to 2.5% from 2.7% in June. Month-on-month, this was an increase of 0.6%.

Richard Donnell, research and insight director at Zoopla, said: “The once-in-a-lifetime re-evaluation of housing requirements on the back of the lockdown will be a counterweight to the impact of the recession on housing market activity over the rest of 2020.  

“While demand has softened over August, we expect the current momentum in market activity to continue into the last three months of the year.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
British Gas to pay £1.73m over prepayment meter failings

British Gas is to pay £1.73m for failures in the way it handled changes to prepayment meter top-ups which left...

Close