Property stock levels at 14 year low

Election Housing ManifestoAccording to the National Association of Estate Agents, the number of homes available to buy on the open market is currently the lowest it has been for 14 years.

The association monitors how many properties its members have for sale per branch. According to their research the association found that each branch member had an average of just 33 properties for sale, the lowest since December 2002 when each branch had just 25.

The National Association of Estate Agents also report that around 33% of property sales made in January were made to first time buyers.

Commenting on the findings a spokesperson from the NAEA says “The number of sales made to first time buyers has increased this month, and we should expect to see their market share rise after April. The fact that housing supply has reached a 14 year low really highlights the need for the government to push the house building programme to the very top of the agenda.”

These findings come as no surprise. For some months now the number of people wishing to buy property has far exceeded the volume of property available to purchase. If you are thinking of selling property now is a great time to put your property on the market. High demand is likely to help sellers achieve a quick sale at a great price. Countrywide agents have recognised this vendor opportunity and are currently offering a network wide offer on their standard marketing pack.

Contact your local agent for more details.