Editor's note: This brief was summarised by The Property AI Newsroom from a report by The Negotiator. Read the original article for full details.
England's For-Sale Stock Jumps 16% as 54,000 Homes Hit Market in Two Weeks
The number of homes for sale in England has jumped 16% overall this month, with some areas seeing a 35% leap, according to data from Yopa. More than 54,000 homes have hit the market since schools returned after the summer holidays.
At the end of August, there were 331,255 homes listed for sale. Two weeks later, that total had climbed to 385,565. Properties listed since the start of September now account for around one in every seven homes currently on the market.
September surge
Verona Frankish, Chief Executive of Yopa, said the summer holidays traditionally bring a quieter period for the property market, with many sellers holding off while schools are out and families focus on getting away. Once September arrives, she noted, the market tends to spring back into action, and this year has been no different, with more than 54,000 additional homes listed in just two weeks.
Frankish described the increase as substantial for such a short period, and said it should give buyers who put their plans on hold over the summer greater choice.
Where stock has grown most
Rutland has seen the largest increase in for-sale stock, with the number of homes available to buyers climbing 35%. Properties to have recently entered the market in the county currently account for 26% of the total.
The Isle of Wight has seen the second largest increase, with for-sale stock climbing 34%. Worcestershire and Devon have both seen stock levels rise 20%, with Greater London also recording a 20% increase.
What it means for agents
For letting agents and inventory clerks, the sharp rise in available stock across England points to a busier autumn for property instructions, valuations and inventory appointments as new listings come to market.
Source: The Negotiator