Demand out stripping supply
We all know about the balance between demand and supply affecting market prices in the business world. This market force is demonstrated strongly in the property sector
According to Hamptons
this demand/supply imbalance has fuelled the property sector with double the amount of potential buyers registering in March 2021 compared to 2020. All this but with 19% fewer properties available has helped to keep the property market extremely buoyant.
This could also explain why 28% of homes in England and Wales were sold for more than their original asking price.
At TJ Property and Development, we mentioned in our previous blog that we believe now is the time to invest in property and this article would appear to corroborate our beliefs.