Homes for sale stock falls by 26%
THE number of homes on the market is at its lowest since 2015, fuelling six per cent a year price rises. While buyer demand is up 21 per cent on 2020, stock levels are down 26 per cent.
Property site Zoopla’s monthly index says houses on the market are down 33 per cent compared with the more normal 2018 and 2019.
And competition among home buyers means the average time between listing and sale agreed is 26 days, down from 49 in 2019.
Flat values rose by one per cent in the last year – but the average house soared seven per cent.
Grainne Gilmore, at Zoopla, said: “The lack of supply, especially for family houses, means the market will start to naturally slow during the rest of this year and into next year, as buyers hold on for more stock to become available before making a move.”