Fresh property sale stock rises 80%

There has been an 80% annual increase in the number of homes entering the market in the past two weeks across Britain as seller confidence continues to grow, eXp claims.

The self-employed agency brand analysed the number of homes that have been listed for sale in the past 14 days and how this influx of fresh for sale stock compares to both the closing stages of last year and on an annual basis.

The research shows 83,033 homes were listed, a 24% increase when compared with November 2023 and an increase of 80% compared to this time last year when just 46,092 homes were listed for sale during this two-week period.

The same period last year was still in the aftermath of the mini-Budget crisis though.

As well as nationwide increases, the analysis by eXp UK shows that every single region of Great Britain has recorded both quarterly and annual increases in fresh stock entering the market.

The biggest quarterly increase was recorded in the South East where new listings in the past 14 days totalled 14,132 which is 31% up on last quarter (10,798).

Strong growth was also been recorded in Yorkshire & Humber (30%), East of England (28%), the West Midlands (25%), London (24%), and the South West (23%).

Adam Day, head of eXp UK, said: “There is a clear and undeniable momentum building across the British property market.

“Mortgage approvals are on the up, interest rates seem to have peaked and expected to fall this year, and sellers are reacting to this growing market sentiment in order to take advantage of growing buyer demand levels.

“As a result, there’s been a considerable increase in the level of fresh for sale stock reaching the market and, as a result, the outlooks for the year ahead is a far more positive one than many could have predicted just a few months ago.”