Estate agents across the country are gearing up for a busy spring/summer as the number of properties for sale hits a two-year high. This surge in available properties is due to a growing number of sellers who have been encouraged by rising house prices and improving economic conditions. This influx of properties is great news for buyers and sellers alike, as it provides more choice and increases competition in the housing market.
A recent article in ‘This Is Money’ reports that the UK’s biggest estate agency chains have reported a surge in the number of new properties coming to market.
After a period of stagnation in the housing market, sellers are flooding back to the market as mortgage rates and house prices have started to stabilise. The number of properties for sale has now hit its highest level in 27 months, according to figures from Propertymark, the leading membership body for property agents..
In March, Propertymark reported that their estate agents typically had 35 homes for sale per branch, the highest number since January 2019. The number of sales being agreed is now widely back in line with the average number agreed in 2019 before the pandemic. In addition, the number of house viewings increased 21% in March compared to February, and the average number of new buyers registering per branch has increased by a third since the beginning of the year.
Nathan Emerson, Chief Executive of Propertymark, said: “We have seen positive activity in February and March and expect it to continue into April.”
These figures show that the housing market is bouncing back after a challenging 2022. With more homes available to buy, buyers have more choice and greater chance of finding the right property for them.
The rise in new listings is good news for buyers who have been facing a shortage of properties to choose from and the latest news from the UK’s biggest estate agency chains is a welcome sign for buyers in the housing market. After a period of stagnation, more properties are coming to the market. This is great news for those who have been struggling to find the right property to buy.
This increased supply of homes gives buyers more options, allowing them to make more informed decisions about which house to purchase. With more homes on the market, buyers also have greater bargaining power as they can take their time and shop around for the best deal.
Overall, the rise in new listings is certainly good news for buyers who have been facing a shortage of properties to choose from. It gives them more options, more bargaining power and can help keep prices in check. This can be a great opportunity for buyers to get into the housing market and find the perfect home.
