However, this year the market has not awakened as usual. While the number of buyers has increased, sellers are not willing to lower prices further. This has resulted in sellers being reluctant to list their properties for sale, leading to only a slight increase in available properties for sale. With a shortage of properties on the market, buyers are facing fiercer competition, and there is less room for price negotiation.

Matt Thompson, Sales Director at Chesterfield, stated that traditionally, buyers become more active in searching for properties after the Easter holiday, so they anticipate a full recovery in the spring property market in the coming weeks. However, despite expectations of more sellers listing their properties for sale, the reality is that the number of buyers far exceeds the number of sellers, creating a more competitive environment for buyers.

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Meanwhile, the rental market in Chesterfield presents a different scenario. According to the latest data, the rental market in London has had a strong start this spring, with a 10% increase in the number of tenants signing lease agreements in March compared to February, while the number of tenants withdrawing leases has decreased by 11%. This phenomenon indicates that most tenants are eager to rent desirable properties as soon as possible.

Adam Jennings, Rental Director in Chesterfield, pointed out that the reduction in rental prices by landlords has stimulated activity in the rental market, reflected not only in the increase in the number of new tenants but also in the number of existing tenants renewing leases. However, with the arrival of spring, the demand for rental housing will continue to grow, and if the supply of properties is insufficient, rental prices are likely to rise again. The current number of properties on the market has decreased by 1.5% compared to the previous month, which may pose a risk of rental price increases. Although the annual rental inflation rate in London has slowed, rents are still rising, with the current average rent being £2121.