BYM the property market is in full bloom
Go Back

The summer property market is in full bloom

There is nothing quite like taking in the view of your home in full summer bloom. With daylight flooding through your windows and the scent of flowers blowing in the breeze, summer makes your home feel extra special.

It’s little wonder that so many people choose this time of year to get on the move. And the good news is that the summer property market is looking good.

Homes are selling

Homes are sprouting up on the market like wildflowers and are quickly being picked by happy new owners, and as more people move, they bring with them more houses for you to view. All you have to do is decide which beautiful property you want.

The first-time buyer market

This sector of the market is doing really well, with first-time buyer demand in May up by 6% above 2019 levels.* This is partially due to the government mortgage guarantee scheme, which is due to end in December. The market is flourishing, but as people move up the ladder, this creates the perfect opportunity for you to buy.

Are you looking for your first home? Take a look at our handy guide for first-time buyers. 

Would you like more room?

With longer evenings and warmer weather, many people like to make their moves before the winter sets in. With the price of first-time buyers' homes so strong, now is a good time to sell and take a step up on the property ladder.

You will achieve a great price for your starter home with your money going a little further in the second stepper sector. This is due to an increase in demand for second-stepper homes of 3% in May compared with 2019.*     

Homes at the top of the tree

Buyer demand for homes at the higher end of the market is also respectable, meaning you will achieve a good price for your home if you are considering downsizing or buying bigger. There is also more scope to negotiate the asking price if you are looking for a home at the higher end of the ladder.  

Outdoor living spaces and the garden

The garden and your home’s outdoor living space have become as important as any other room in the house. Since working from home has many of us cooped up indoors from 9 to 5, homes that capture the magic of the outdoors are highly sought after.  

Prices are healthy  

The average price of property increased by 1.8%, or £6,647, in May; this is the biggest rise of the year so far.* Unlike recent years, this is steady and secure growth. The property market is in a great place, with many happy home buyers finding their properties in time to soak up the summer.  

Have you been dreaming of moving this year? Get in touch with Martin & Co today and make it happen.

*Rightmove data, May 2023

Other posts you may find useful