March’s buoyant property market

- On average housing transactions ‘bounce’ 28% in Spring
- Last year new instructions leapt 86% in March; buyer registrations bounced 53%
- Property transactions increased 39% in March last year, the highest Spring bounce in 5 years

Our latest in-house research has focussed on the Spring property market bounce and reveals that March is the busiest month in the year across all aspects of the housing market. From those moving into their new homes to those listings their properties, through to buyers filling in their initial application forms, our branches across the UK are seeing spikes in activity – a positive sign for those who have been tentatively considering selling their home.

Analysing Land Registry transactions data, our research reveals the largest uplift in transactions takes place in March when comparing transactions from across the entire year (see graph 1), with an average 28% bounce in March over the last 10 years (excluding pandemic figures) dropping slightly to 22% over a 3- and 5-year average*.

Undoubtedly, 2020 and 2021 stand out as an anomaly in the Spring transaction data, with the housing market closure in 2020 and the looming stamp duty holiday deadlines in 2021. These years recorded a 3% and 39% ‘Spring bounce’ respectively**. 

Jackson-Stops’ own branch data supports the Spring bounce further, with an 86% bounce in new instructions recorded in March 2021***. This is compounded with a 53% increase of buyer registrations in the same period. Again, these were the largest uplifts in activity recorded in comparison to any other time in the year. 

Our branch data also suggests that the South East looks set to have the largest Spring bounce this year.

Nick Leeming, Chairman of Jackson-Stops, comments: “There is always a flurry of activity in the spring, with transactions, buyers and sellers all contributing to the buzz in the property market at this time of the year. Our latest findings show that activity bounces at all stages of the home buying process in spring, not only do transactions bounce by 28% we also see a surge in new stock coming to the market which is met with strong buyer demand. 

“Traditionally increased interest in the spring happens for several reasons - we have brighter weather which lends itself to better photography for advertising, gardens begin to bloom and buyers come to market having had a bit of time over winter to nurture their priorities for the year, and vendors in turn respond to this demand.”

If you’re thinking about selling your home, or if you would like to register with us to find your next property, please contact our branches.

* Using Land Registry data to calculate average number of transactions YOY per month 2017-2021 and 2019 - 2021 and calculating percentage increase.

** Land Registry Sales volume by type of property type data over a 10 year period from January 2012.

*** Using Jackson-Stops sales 2021 sales data