“The key to price stability will be an increase of new sellers listing their homes; if we can arrive at a point where there is enough stock to go around, prices will remain stable.
“If not, I would suggest it’s realistic to expect further significant rises in asking prices in the coming months.”
James Forrester, Managing Director of estate and letting agent, Barrows and Forrester, said now is the time to put your property on the market with buyers assuming they have more money thanks to the SDLT holiday extension.
He added: “Getting your house in order and an agent instructed now means you’ll be able to take advantage of these buoyant market conditions and not only will it reduce the time it takes you to find a buyer, but you’re in with a good chance of selling for a better price.”
Ben Taylor, CEO of national estate agent Keller Williams UK, said the next few months are likely to be a “wild ride” as the UK enters the “busiest of the year for the UK property market”.
He said: “We’re seeing for sale stock fly off the shelves at an incredibly fast rate at the moment and while demand continues to exceed supply, the only way is up where property values are concerned.”