The property market has seen an upturn in choice for buyers, thanks to back-to-school season.
Autumn is well-known for a bounce in activity, and with the return of kids to school at the start of September, Rightmove has noted more properties coming on to the market in the first week of the month compared to the last three weeks of August.
In its latest House Price Index covering August, the online estate agent listings site revealed there has been a 16 percent jump in new properties coming to market in the first week of September.
This means increased choice for buyers after the traditional summer lull when fewer people look to sell and consequently fewer people are able to buy.
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A surge in sellers
Miles Shipside, Rightmove director and housing market analyst, said: “The start of the back to school season sees a surge of sellers coming to market compared to the preceding quieter holiday period.
“Sellers aren’t hanging back in coming forward to try and sell, and with average prices just 1.2 percent higher than a year ago, many seem to be pricing sensibly.”
The Rightmove index showed positive signs for the autumn market, including the start of a recovery in London where prices have been in a slump for most of the year.
Strong momentum for sales
Its figures indicated newly marketed properties are going up for sale with an asking price up 0l7 percent on the month, with the annual rise at 1.2 percent. However, the report pointed to areas with strong momentum for sales, such as Wales, the east Midlands, West Midlands and Yorkshire and the Humber, which all recorded average annual price rises of at least 4 percent.
In London, there was a 6 percent rise in the number of sales agreed for properties valued at £750,000 and over, compared to the same month a year ago.
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