According to a real estate specialist, the home market boom will continue in the same way as before.
The property market will continue to “move in the same direction as travel” this summer, according to a real estate expert, as buyer hunger remains strong across the country.
Today, the first OnTheMarket Property Sentiment Index was issued, providing information on buyer and seller confidence. The new data also looked at views toward mortgage borrowing, the most popular property types, and time to sell metrics, which was collected via survey questions on their website. This, according to the British property search portal, is the largest monthly consumer sentiment index in terms of buying and selling residential property in the UK to date.
According to the research, 75.5 percent of active UK buyers are confident in their ability to buy a home within the next three months.
Furthermore, 84 percent of active UK sellers polled were optimistic in their ability to sell their home within the next three months.
According to the property sentiment index, 28.5 percent of homes were sold subject to contract (SSTC) within 30 days of first being advertised for sale, up from only 8% in June 2020.
Last month, Scotland had the quickest selling region, with 33% of properties SSTC within 30 days of initially being placed for sale.
Meanwhile, with only 20% of households SSTC within 30 days, Greater London had the lowest number.
In June 2021, the statistics looked at the most popular property kinds.
Based on homes that were sold SSTC, the site analyzed thousands of estate agency listings across the UK and was able to track the most sought-after property types.
Three bedroom semi-detached houses were the most common dwelling type in the UK in June 2021.
In June 2021, the average asking price for a semi-detached home was £334,395.
Two-bedroom apartments, on the other hand, were the most popular property type in Greater London, with flats selling for an average of £817,559 in June 2021.
As buyer appetite continues to thrive, OnTheMarket Chief Executive Officer Jason Tebb believes the property market will “continue in the same directions as travel over the summer.”
Mr Tebb explained that the study focused on consumer confidence since “sentiment fuels markets” and data only “provides half of the story.”
Prior to joining OnTheMarket, Mr Tebb worked as an estate agent, handling hundreds of transactions. “Brinkwire News in Condensed Form.”