October 2013 has seen property sales in the UK hitting a remarkable four-year high. With an average of 18.7 properties sold per individual chartered surveyor between June and September, we’re seeing the highest sale figures since November 2009. This is strong evidence that the housing market is continuing its progressive recovery.
As well as this increase in sales, there’s also a continuing growth in prices, which have been increasing across most of the country at a steady rate since April 2013. With government schemes making it easier for people to buy property via initiatives like the Help to Buy scheme, surveyors are also reporting dramatic rises in new buyer inquiries.
In evaluating the ramifications of this recent growth, financial experts report that they expect the number of transactions to continue to grow over the last few months of the year. However, the level of demand outstrips the number of properties available to purchase, and this is cause for concern. The imbalance between demand and supply in the property market is likely to make houses increasingly more expensive over the next few months, especially in busy areas.
This is good news if you're planning to sell, as you may be looking at a limited window during which you can sell your home for a higher price than usual. If you've been mulling over the decision to sell for some time, there's good reason to consider taking the plunge sooner rather than later in case the balance between demand and supply begins to even out.