Despite more properties being freed up by people downsizing there is still a chronic shortage of properties available to buy in the UK. Latest figures published in the Property Wire show that new property listings were down by 13.1% in August compared to the previous month. At this time of year we would expect to see a dip because of the summer break, however new properties listed were down by 5.9% compared to August 2016.
Two thirds of towns and cities saw a fall in property stock during this period, with Chelmsford showing a drop of as much as 21.7% compared to August last year.
Richard Durrant, Managing Director of Intercounty commented: “ August is always a slower month for property transactions due to the summer holidays, however supply does continue to be a problem especially for people looking to downsize or upsize.
However it’s not all bad news as we are nearly half way through September and there are plenty of buyers and sellers so we expect the figures from this month to be much more positive.”
If you are considering a move why not check out our instant valuation tool on our website - get an idea of how much your property is worth at a touch of a button Intercounty instant valuation or if you would like one of Intercounty’s valuation team to visit your property please call us on 01279 655243.
Or if you are thinking of buying why not pop into your local branch of Intercounty and we will be able to help you with your next move.