Buyer Demand Boosts and Sellers Gain Renewed Confidence as Autumn Market Accelerates

According to a recent update from Rightmove, estate agency stock has now hit a decade-high as falling mortgage rates lead to a boost in buyer demand, giving sellers renewed confidence. Upon the release of their September House Price Index, the typical peak that the market sees throughout the Autumn season has arrived early this year, bringing even more confidence to the market.

Rightmove has released their September House Index, bringing the news of estate agency stock hitting a decade-high, from a contribution of mortgage rates continuing to fall and boosting buyer demand, as well as giving sellers much more confidence to come to market. The Autumn boom that the market typically experiences each year has started early, with asking prices increasing by 0.8% this month, and annually by 1.2%.

The data also shows that sales agreed have increased by 27% year-on-year, likely due to the pent-up demand from buyers now being released due to the various cost-of-living crisis and rising bills that have affected households throughout the year. The confidence from sellers is evident as well, with the number of new sellers coming to market up by 14% compared to this time last year, further confirming that the volatile market is bouncing back.

Tim Bannister, Rightmove’s Director of Property Science.

With buyers and sellers heightening the market activity earlier than usual this year, now is the time to act. Whether you’re looking to buy or to invest in Manchester, acting now can secure you better prices and allow you to benefit from the capital appreciation earlier, offering more growth in the future. Reach out to our expert property consultants today to find out how you can benefit.