Supply has dropped to a new post-crisis low, says website Home.
Doug Shephard, director at the site which takes its listings from virtually every other property website and portal in the UK, said: “Potential buyers, especially those in London and the south-east, are set for more frustration for the rest of 2013 and into 2014.
“Their choice of properties to consider is the lowest it has been since 2007 and there are no signs of possible improvement.
“The flip side for vendors is, of course, more positive. The low volumes of property that do make it to the market are in higher demand, and the typical time on market is four days shorter than this time last year.”
According to Home, the total number of properties for sale is down 55% compared to November 2007.
The supply of new property in London is down 30.5% compared with a year ago.
The site says the average asking price in England and Wales is now £247,137, up 5.7% on this time last year.
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Comments
Whilst I am full capacity at the moment, I will taking on more staff in the last week of January, as I work as a freelance agent, getting new stock for letting agents and sales agents, if anyone was interested in getting more stock to sell/rent in the new year - drop me a note or go to my website
landlordfinders.com
We dont take a % of the fee - that wouldnt be fair. Just pay us for the stuff we do .. its all on the website
Or using that logic will *greedy vendors wait until next summer and get 40% more.
Prices are up 30% on a year ago, here in South London.
Vendors waiting until the New Year to get 20% more?
Good news. Less supply increases the demand on what remains. Onwards and UPWARDS. .....
Couldnt be a better time for agents to work together to share and access more stock.