Propertymark’s figures show that agents have not had this level of homes for sale since March 2021 when it sat at 31 per member branch. However, the number of homes for sale then plummeted reaching record lows to just 19 in January 2022.
Whilst the number of homes for sale nosedived, the number of house hunters increased relentlessly, causing an explosion of house price rises.
The number of house hunters registered on estate agents’ books peaked in January and April this year with a noticeable dip over the summer months. In September this figure picked up, standing at an average of 83 house hunters per branch.
Although estate agents' stock is replenishing, figures still stand well below the pre-pandemic average for September of 41 properties available per member branch (2015-2019).
Nathan Emerson, Propertymark CEO, commented: “Over August and September, we have seen an increase in people wanting to get their homes valued and sold. This is great news for buyers who have missed out previously. With the economic climate changing, sellers will need to be realistic about the prices they might achieve, but as most people move every 15 years or so they are still seeing a considerable lift in value from what they would have paid.”
