Rise in number of available homes for sale

According to new data, the number of available homes for sale has reached a 27-month high. Many individuals postponed their relocation plans due to a surge in mortgage rates, which reached levels not seen in 14 years, and a decline in house prices towards the end of the previous year. However, the latest figures from Propertymark, which represents over 18,000 estate agents, suggest that the housing market is rebounding. Estate agents had an average of 35 homes for sale per branch in March, the highest since January 2021. In contrast, a year ago, they had only 20 properties available for purchase per branch. Estate agents report that the number of sales being agreed is now in line with the average number agreed before the pandemic in 2019. Propertymark also notes a 21% increase in house viewings in March compared to February and a one-third increase in the average number of new buyers registering per branch since the start of the year. 

Daily Mail (18/04/2023)