Time-On-Market returns to pre-pandemic level says RICS

Selling a home – the period from listing to completion – is now back to its pre-pandemic levels of 16 weeks according to agents contributing to the latest RICS survey.

It reports a net balance of +16 per cent of respondents saying they had seen an increase in new buyer demand, up from +9 per cent in December and the strongest reading since the height of the Stamp Duty holiday in May 2021.

However the market remains unusually active and strong.

Data from Time-On-Market returns to pre-pandemic level says RIC… (estateagenttoday.co.uk)

Mortgage Rates

Mortgage Rates

Who qualifies as a first-time buyer?

You’ll be classified as a first-time buyer if you – and anyone you are buying with – are purchasing your first residential property. If you’ve owned a house or flat before – in the UK or abroad – you’re unlikely to be eligible for many of the schemes designed to help first time buyers on to the property ladder.

This is true whether you owned an entire property or a share in one, for example as a joint tenant or under a shared ownership scheme. Different schemes will vary in their rules and criteria so read any small print first before applying.

taken from Money Supermarket