"The increase in sellers joining the market shows us that trust is till there. We have seen positive activity in February and March and expect it to continue into April"
Estate Agents clock the highest number of homes for sale in 27 months
Over the past three years, the market has suffered with a vast undersupply of homes compared with buyer demand - underpinning the eye-watering rise in house prices.
However, sales agents reported having an average of 35 homes for sale per branch during March - the highest since January 2021 when the figure sat at 38. Looking more seasonally, this year is the highest figure for March since 2019 when it sat at 37.
As well as motivated sellers, it seems buyer confidence has also not swayed, with the number of sales agreed reported being robust, in line with the average for the month (2017-2019).
These homes have brought with them an increase in viewings, raising by 21 per cent from February.
Nathan Emerson, CEO of Propertymark commented:
“The increase in sellers joining the market shows us that trust is still there. We have seen positive activity in February and March and expect it to continue into April.
“Buyer affordability has stabilised, and it’s hoped by professionals that interest rates will stay steady throughout 2023. Prices are holding firm with a little negotiation back on the table meaning both sellers and buyers feel they are getting their monies worth.”
