Gap between property supply and demand widens

The number of house hunters registered per estate agent branch increased by 22% to 382 from December to January, NAEA Propertymark’s January Housing Report has found, widening the gap between property supply and demand.

Because the number of properties available per member branch fell from 41 to 38, meaning the gap between supply and demand has increased.

Mark Hayward, chief executive, NAEA Propertymark, said:

“It’s positive to see the New Year has brought some much-needed confidence to the market, with a significant increase in demand from house hunters following the General Election result.

“As the Spring Budget fast approaches, we hope to see housing as a priority for the new Chancellor.

“A clear strategy is needed to tackle key issues such as stamp duty costs, which needs to be addressed in its entirety to encourage more frequent moves, improve affordability and relax punitive financial tax on home movers.”

The number of house hunters is the highest figure seen since September 2019, when there were 387 prospective buyers registered.

The amount of properties available has fallen to its lowest level since June 2019, when there were 37.

Kindly shared by Property Wire