Latest data indicates housing market recovery

April 28, 2023 by Brendan O'Neill

House Prices

The latest UK housing market data indicates that a recovery is well underway as spring progresses, with the confidence levels among both sellers and buyers on the rise.

This data comes from OnTheMarket. It shows that the percentage of people who are actively looking to buy a home that currently feel optimistic about doing so is 71%. When it comes to those who are trying to sell their properties, 63% of them told OnTheMarket that they were very hopeful about their chances of doing so within the upcoming three-month period.

This has led the authors of the report to conclude that real signs of recovery are now apparent within the housing market. That conclusion is further supported by the evidence of the March property sentiment index. It shows that 45% of homes were sold within a 30-day period of being put onto the market.

That is still well below the figure for the same time last year, when 64% of homes were sold in the same period, but it does indicate that the housing market is now more balanced and represents an increase on the percentage for the previous month.

Jason Tebb from OnTheMarket told Mortgage Strategy that the evidence shows that the market is going back to normal, adding:

“As the sun makes a more regular appearance, more properties are coming to the market looking their best, and there’s growing expectation as to what the next few months have in store.”

Demand for CeMAP training courses will stay high with the news that the housing market is bouncing back.