Home hunter numbers surge as more people look to buy

 
Home hunter numbers surge as more people look to buy

In recent times, it's been reported that the price of UK property is likely to fall as buyer numbers dwindle and the number of people looking to sell rises, but the autumn period looks likely to buck this trend as the UK goes through the busiest period of the year for UK property. 

According to a new report from the National Association of Estate Agents (NAEA), September saw the number of buyers in the UK market hit its highest level for nearly a decade. Meanwhile, the level of supply nationwide hit a 12-year low. 

If both of these factors combine throughout autumn, it is likely that we'll see another rise in property prices. For those looking to invest, this could cushion the potential blow that is being predicted for next year, with property prices forecast to temporarily fall in 2015.

Speaking of the latest NAEA report, Mark Hayward from the organisation said: "The report demonstrates to us that people are ready to get on or move up the housing ladder, but the supply levels do not match demand.

"September is a notoriously busy month in the housing market. The kids have gone back to school after the summer and people want to get sorted before Christmas, however it seems a lack of affordable and quality housing has been a problem this month. Now that the economy is picking up and Brits are in more comfortable financial situations, more people will want to buy and sell homes."

So why has the number of buyers risen? As well as the fact that this is always a busy time in the sector, we also have to take the impending base rate increases under consideration. 

The Bank of England is expected to raise the interest rate in 2015, and because this would make it harder to obtain a mortgage, many people are now looking to buy ahead of any change. This is driving buyer numbers, and potentially property prices, ever higher.