A leading agent says that for every house he puts on the market, he has over 40 requests for viewings - all from buyers in the position to move.
Richard Freshwater, director at Cheffins in Cambridgeshire, says the current market is characterised by the biggest lack of stock he’s seen for at least the past 20 years.
He adds: “Demand is huge, created by a perfect storm of low interest rates, the stamp duty holiday and changes in people’s working patterns. The dreary five day a week commute for many is now over, and this has led to areas outside of London becoming some of the most in demand.”
Freshwater continues: ”On average, every house we put on the market at the moment sees over 40 requests for viewings, all from buyers who are in the position to move. The amazing thing as well is that this level of interest is throughout the market at all price levels, with demand for large country homes at the same rate as the more affordable, smaller city-based options.”
He says that sealed bids have become the order of the day, with over 25 per cent of sales since February conducted by his agency ending up in a best and final offers situation.
He says many sellers are currently holding fire on putting their houses on the market until they have had their second Covid vaccination.
“Once the vaccine roll out gets into its later stages I would expect to see a good number of properties hit the market as people look to get on with selling” he concludes.