North-south split over home supply
THERE’S a North-South divide in property supply, according to Home.co.uk.
The average volume of vendors entering the market is less than half of what it was during the property boom year of 2007. In London, supply is down 19 per cent over the past year and prices are up 10.5 per cent.
However, in the North East, supply is up 16 per cent. The North West has seen a 6.4 per cent rise and Yorkshire has had a rise of six per cent. Doug Shephard, director at Home.co.uk, says: “These regional supply dynamics suggest that the bipolar nature of the UK property market is only going to get worse. Starved of new and resale stock, pricing in the London looks set to go ballistic.”