The UK property market is showing strong momentum this February, with increased activity from both buyers and sellers. A combination of rising demand, improved mortgage deals, and appealing properties is fuelling confidence in the market.
Prices reflect strong demand
The average price of a property coming to market increased by 1.7% (+£5,992) in January to £366,189, marking the biggest jump in early-year prices in five years.* This growth reflects continued buyer interest and suggests that those considering selling their homes could benefit from robust demand and competitive offers.
Active sellers
Sellers are entering the market with renewed confidence, with 11%* more new properties listed compared to the same period last year. A wider selection of homes gives buyers more options while ensuring sellers attract attention from a motivated pool of purchasers eager to move.
Active buyers
Buyer demand is also on the rise, with the number of agreed sales increasing by 11% year-on-year.* More buyers committing to purchases signals a thriving market, where realistic pricing and desirable properties are securing strong offers.
Stamp duty
With the 1st of April deadline having prompted many to start early, first-time buyers and homemovers seized the opportunity to minimise costs, adding more momentum to the market. Homemovers who do not move before then recognise the 2%** increase in stamp duty between £125,001 and £250,000, amounting to £2,500, is relatively small set against their investment and the improving market conditions. This makes the decision to move more straightforward.
Better mortgage deals
Lenders are responding to market conditions with more competitive mortgage deals, helping buyers secure favourable rates. Lower borrowing costs are encouraging those who may have delayed their move last year to re-enter the market, boosting overall activity and driving momentum.
Beautiful properties
With more homes available, buyers can explore a diverse range of properties, from charming period homes to contemporary new-builds. Sellers who present their properties well, using professional photography and effective marketing, can attract strong interest and secure the best possible price in this active market.
Market confidence
The improving economic outlook and rising consumer confidence are supporting the property market’s momentum. Stable house prices, increasing wages, and a strong rental market are encouraging both buyers and investors to act. With greater certainty in the market, more people are taking decisive steps towards buying or selling their homes.
Start your journey this February with confidence by booking a free valuation
