OnTheMarket data shows that buyers and sellers continue to maintain confidence in the property market, although homes are taking longer to sell. According to the portal’s latest property sentiment index, 71% of active buyers felt optimistic about purchasing a property within the next three months in March, up from 69% in February. Likewise, 63% of UK sellers were confident about selling their property in the next three months, a slight increase from the 62% recorded in the previous month.
Regional variations exist in the market, with seller confidence declining in the East of England from 65% in February to 60% in March and in Wales from 64% to 59%. In contrast, the South East witnessed an increase in confidence, with 64% of sellers expecting a sale within three months in March, compared to 59% in February.
OnTheMarket reported that 45% of all properties were sold subject to contract (SSTC) within 30 days of being listed for sale in March. Although this figure is lower than the 64% recorded in the same period last year, the portal noted that the market is adjusting in a measured manner. The percentage of homes reaching the SSTC stage after 60 days also rose from 13% in February to 19% in March.
OnTheMarket CEO Jason Tebb advised motivated sellers to be realistic in their pricing and to listen to the advice of professional local agents, particularly if they aim to sell within the 30-day window. Despite the need for caution, Tebb expressed positivity due to the growing optimism of both buyers and sellers in the market.
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