The number of properties available for sale is now at a 14 year low driving prices up
Demand by buyers and landlords to buy property is outstripping the supply which is now at a 14 year low. The number of properties available for sale per Estate Agents branch was 33 in January the lowest figure since 2002 when it was 25 latest report from the National Association of Estate Agents (NAEA), a decrease of 33%.
There has also been a massive increase in registered buyers with 435 registered per branch and increase of 21% since December.
Seven in 10 estate agents have reported a 44% surge in interest from landlords compared to December. The findings come after separate data last week from the British Bankers’ Association showed mortgage borrowing increased by 38% in the last 12 months.
With lack of property supply and increased demand from buyers house prices are continuing to rise.