The housing market is buzzing with activity, with buyers and sellers back in the game, according to the latest figures from Propertymark.

April saw a surge in interest, with more people than ever looking to buy or sell a home.

• Buyers on the Hunt: The average number of new buyers registering with estate agents jumped from 76 in March to 88 in April. This means more people are looking for a new place to live.
• Homes Up for Sale: The number of homes listed for sale also increased, with agents reporting an average of 12 new properties being put on the market each month. This is great news for estate agents, who are seeing more houses on their books.
• Deals Being Made: The number of sales agreed in April was also up, averaging nine per estate agency branch, compared to seven in March.

Challenges Remain

While things are looking good, there are still some challenges facing the market:

• Prices Need to Adjust: There’s still a gap between what sellers are asking for and what buyers are willing to pay. This gap needs to close for the market to keep moving smoothly.
• Slow Exchange Times: If you’re hoping to move before Christmas, you’ll need to act fast! It’s taking longer than usual for deals to be finalised.

Renters Face Tough Competition

The rental market is still hot, with lots of people looking for homes and not enough properties available.

• More Tenants Than Homes: In April, there were nine new applicants for every available rental property. This means competition is fierce, and landlords have plenty of choice.
• Rents Reaching a Ceiling: While rents are still rising, some areas are seeing a peak in what people can afford to pay.
• Landlords Leaving the Market: Many landlords are choosing to sell their properties, which is causing a shortage of rental homes and making the situation even tougher for tenants.

If you’re thinking of buying or selling a home, now’s the time to get moving. But remember, it might take a bit longer than usual for deals to go through.