Asking prices for properties newly listed on Rightmove have nudged up 0.6% on August, driven by shortages.
The site has recorded the lowest average stock levels per branch for 18 months, with 29% more properties coming off the market than going on to it.
One agent’s summary of trading conditions in August was: “Sales awesome, new listings dreadful.”
The average unsold stock per estate agency branch has dipped to 69, the lowest level since February 2008.
With 20% fewer estate agency branches than in 2008, the fall in stock levels is even more pronounced.
New seller numbers are averaging around 23,000 a week, but 151,591 properties have come off the market in the last month.
The picture is also patchy: while asking prices have gone up across London, the south-east and East Anglia, asking prices remain depressed elsewhere.
Asking prices nudge up again in property drought
Latest Features
-
Property Natter - Here comes Summer.... or maybe Autumn?
We all know that first-time buyers have had a tough time...
-
Renters Reform? What about the tax bill?
There was a long-awaited return to the House of Commons this...
-
Clarity needed on Leasehold and Freehold Reform Bill report
Last weekend a story by The Sunday Times’ Deputy Political Editor...
Sponsored Content
-
Stamp duty cut - much needed boost or short...
The Government’s mini budget on September 23 was anything but ‘mini’...
-
Buying a home with battery storage is a 'powerful'...
As domestic battery storage systems become increasingly prevalent in UK homes,...
-
8.7m leads later, The ValPal Network celebrates 10 years...
Happy birthday to us….and all members of the The ValPal Network! We...
-
AML warning as hundreds of agents hit with HMRC fines
An anti-money laundering (AML) expert has queried why there is a...
-
Industry Views - Airbnb Crackdown - this time it's not just Michael Gove...
It’s tempting to think that Michael Gove’s proposed clampdown on Airbnb-style...
-
Property Natter - Buyers 'tak' the high road to stronger market
When we talk in general terms about the UK housing market,...
-
Law Society faces backlash over material information forms
The Law Society is facing backlash from conveyancers after issuing new...
-
AML warning as hundreds of agents hit with HMRC fines
An anti-money laundering (AML) expert has queried why there is a...
-
Average estate agent fees hit £4,500 to £10,300 - claim
A new analysis of the cost-of-moving suggests that the typical seller...
60 second interview
Jake Gann, Sales Director at Bamboo Auction
Who are you and what does it say on...
Ashley Day - Director of Bristol Property Centre
Who are you, and what does it say on...
Graham Paterson ‘Co-founder and CEO of Jitty’
Who are you and what does it say on your...
Comments