Where have all the vendors gone? Housing supply hits record low in March
NAEA says the levels of sellers and buyers 'aren't where we'd expect them to be' during what is traditionally the busiest month of the year for agents.Nigel Lewis
30th April 2019 0 360 Views
The supply of homes for sale in the UK hit a record low for the month of March, the National Association of Estate Agents (NAEA) has claimed.
Its monthly snapshot of estate agent inventory has discovered that there were just 37 properties for sale on average at each branch of its members, an all-time low.
The supply of properties during what is traditionally the busiest month in the property calendar has been steadily declining in recent years. In 2013 the figure was 60 properties per branch.
The shocking figure comes despite a month-on-month increase of 9% from February and is also matched by a six-year low in demand for homes, the NAEA says.