Why are house prices going up right now?

If you’re thinking about moving home but are unsure how the end of the stamp duty holiday could impact your plans, we’ve some new insights to share.

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Rightmove's latest study shows that demand from buyers is growing, with all of the numbers we use track buyer activity on site being ahead of this time last year.

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As it’s now far too late to realistically complete a deal before the stamp duty holiday is due to end on the 31st March, it would appear that many buyers’ desires to move are not dependent on the potential tax saving.

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In fact, the number of people contacting estate agents about homes to buy is up by 18% compared to this time last year, and the number of visits to our website is up by 45%.

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This high buyer demand is outstripping new supply and therefore helping to push up prices despite the challenging economic backdrop.

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Asking prices are up by over £1,500 compared to last month, which is the first increase for four months.

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So buyer demand is higher and prices are rising, but one thing people might find right now is that there isn’t as much new choice as usual.

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OneAgency offer FREE valuations whether you are thinking of selling or letting your property in Stoke-on-Trent and surround areas.