Fifteen UK buyers are now chasing every property as demand reaches a post-Brexit vote high, data from haart estate agents has found.
New buyer registrations increased by 20% in March, viewings rose by 17% and instructions were up by 15%.
Paul Smith, chief executive of haart, said: “The important thing now is to get on with the business of building homes.
“Housebuilding is still not at the level needed to rectify the UK’s housing shortage.
“The government’s latest reforms to the planning system could go some way to rectify this, but the Green Belt remains off limits for large scale development of family homes.
“While supply remains low, I urge those thinking about putting their house on the market to act now whilst demand continues to rise rapidly, to snap up a premium on their property.”
In London property transactions rose by 15% from the month before.
Smith added: “We also saw improvements to London’s rental market in February.
“Figures from the past couple of months are bucking trends seen post-stamp duty surcharge change, and landlords are returning to the market, with sales to landlords jumping 18% on the month.
“Clearly potential investors are recognising the long-term value of property, in comparison to the overvalued stock market, in an uncertain economic outlook.”
Article originally posted by Mortgage Introducer