Back-to-school buyer bounce boosts property market
The property market was given a boost last week as buyer demand bounced back after some quieter summer months, according to Rightmove.
A back-to-school leap in interest was higher this year than in the previous five, with a 5% jump.
This increase was significantly bigger than the average for this time, which is only 0.4%, Rightmove says.
The improvement in demand from the previous week meant it was only 9% lower than last year compared to 14% in earlier weeks this year.
Every region
The uplift was seen across every region, with London and the South West recording some of the sharpest rises at 9% and 8% respectively.
But the September bounce was seen across every region of Britain, with the West Midlands and North East both recording increases of around 7%, while the East Midlands and South East each saw a 6% uplift.
It’s encouraging to see buyers getting on with their moving plans.”
Colleen Babcock, Head of Partner Marketing at Rightmove, says: “While buyer demand remains below last year’s level, this year’s back-to-school bounce is a welcome sign after a summer that brought the usual holiday distractions alongside several spells of exceptionally hot weather.
“It’s encouraging to see buyers getting on with their moving plans and returning to the market as we head into the autumn season. However, it is still early in the month, we will be keeping an eye on this over the coming weeks.”
Hollie Whittaker, Founder of Yorkshire-based agency Block & Brick, says: “We’re definitely seeing signs of increased buyer activity as people settle back into their usual routines after the summer holidays.
“Viewing requests have started to pick up, and we’re seeing more buyers actively continuing their search for their next home now the kids are back at school.”
The post Back-to-school buyer bounce boosts property market appeared first on The Negotiator.
Author: Gemma
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