Highest Level of Property Choice At This Time Of Year Since 2015

March has traditionally been a pivotal month in the UK property market, marking a period when sellers become more active and buyers emerge with renewed interest. This year, the market has experienced a notable surge in property listings, leading to the highest level of choice for buyers at this time of year since 2015.​

According to recent data published by Dataloft by PriceHubble, over half (52%) of estate agents have reported an increase in property supply compared to three months ago. This influx has intensified competition among sellers, creating a marketplace where buyers have a broader selection of properties to consider. Despite the increased activity, new spring buyers are unlikely to meet this month's stamp duty deadline. However, they benefit from the widest selection of properties available during this season in the past decade.​

In the BR6 postcode area, which includes Orpington, the market reflects this national trend. Currently, there are 740 properties listed for sale on Rightmove, with 358 of these marked as sold subject to contract (STC). This indicates a healthy level of transactions and sustained buyer interest in the region. Similarly, in the TN14 postcode area, served by Langford Rae Property Agents, there are 163 properties available for sale, with a further 100 sold STC. These figures underscore the heightened activity and increased options available to prospective buyers in these locales.​

The broader UK housing market is also witnessing significant shifts. The average property price has risen by 1.1% to £371,870 according to Rightmove. This price appreciation, coupled with the increased number of listings, suggests that sellers are responding to the buoyant market conditions by pricing their properties more competitively. It's noteworthy that while the number of homes for sale has reached record levels, the average time to secure a buyer has remained relatively stable, indicating that demand is keeping pace with the increased supply.​

However, affordability remains a concern in certain markets. With buyers presented with a wider array of choices, sellers must be strategic in their pricing to achieve successful transactions. Overpricing in a market abundant with options can deter potential buyers, making competitive pricing essential. This is particularly pertinent in regions where affordability is stretched, and buyers are more discerning.​

The current market dynamics also reflect broader economic factors. Mortgage rates have seen slight decreases, with the average five-year fixed rate now at 4.74%. The Bank of England's decision to maintain interest rates, with potential reductions anticipated in the coming months, may further influence buyer behavior and affordability. Additionally, proposed changes by mortgage regulators to simplify lending and stress tests could impact market activity, potentially easing the path for prospective buyers.​

Looking ahead, property market analysts predict continued activity, with an estimated 1.15 million property transactions expected for the year. While the market size remains below its pandemic peak, the 6.3% growth reported last year indicates resilience and a steady trajectory. Further interest rate cuts could enhance buyer spending power over the next 12 months, potentially sustaining the current momentum in property transactions.

Whether you're looking to sell and want guidance on pricing your property competitively to achieve the best result, or you're a buyer hoping to secure your next home from the wide selection now available, the team at Langford Rae Property Agents are here to help.  Our local expertise and personalised approach will help you make the most of current market conditions.

Source: Dataloft by PriceHubble (poll of subscribers), Rightmove March 2025