Housing supply at lowest levels in 14 years

Housing supply at lowest levels in 14 years

According to the latest housing market report from NAEA, the supply of available housing is at its lowest level in 14 years.

The number of properties available per member branch fell to 33 in January, the lowest recorded since December 2002 when just 25 properties were available per member branch.

Demand rockets

In contrast, demand for housing soared in January, with an average 453 house hunters registered per branch – the highest recorded since July 2015 and a 21 per cent increase from December when there were an average 374 registered, during a seasonal lull in activity.

This reflects increased activity from landlords pushing to complete sales ahead of the upcoming buy-to-let (BTL) surcharge coming into effect on April 1st. Just over seven in ten (72 per cent) estate agents reported an increase in interest from landlords – a rise from 44 per cent in December.

First time buyers

Almost a third (29 per cent) of the total sales made in January were to first time buyers (FTBs), an increase of five percentage points from December 2015.


Mark Hayward, managing director of National Association of Estate Agents (NAEA), comments: “Our findings this month reflect what we are all seeing across the market which is that landlords are trying to complete on sales ahead of the changes to stamp duty on additional homes in April. It continues to be a sellers’ market as demand outstrips supply.

The number of sales made to FTBs 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 their agenda and help more FTBs make their first step on to the housing ladder.”

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Latest Comments

ChristinaReedUK
ChristinaReedUK 20 Jun 2016

I don't understand why it's always a war between the two sides. Either, way the landlord is probably keeping a detailed inventory and will see the changes you've made. I just don't understand why there...

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NathanGreen
NathanGreen 16 Jun 2016

Seeing that the tenants are quite satisfied with their landlords and the properties is indeed great. I wonder, though, what is the situation in London alone? The tenants face sky-high rent levels in the...

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AndiMur
AndiMur 15 Jun 2016

TheGuardian published the same forecast. But on the other hand, professional brokers express different opinions. According totranio.com, an exit from the EU would not affect the demand/supply imbalance...

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Gary Holmes
Gary Holmes 14 Jun 2016

Having a professionally completed inventory at check-in and check-out is clearly (to me at least) of minor value. Tenants make un-authorised modifications and/or walk off with items that belong to the

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Violet Gibson
Violet Gibson 14 Jun 2016

Cautious people think buying off-plan is reckless, but over the past few years investors have literally made fortunes.Pre-release prices have obvious benefits for the developer, who gets instant finance...

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Kate Windleton
Kate Windleton 14 Jun 2016

An interesting research indeed. I guess that is in complete contrast with the United States where people often move from one coast to another. It will be interesting to hear the trends for people moving...

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NathanGreen
NathanGreen 14 Jun 2016

I think it all depends on the market conditions and how well your company is doing. You will agree that you can't demand more when you're killing yourself just to hang in there. Sometimes you need all

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ChristinaReedUK
ChristinaReedUK 13 Jun 2016

What does "detecting a bad vibe" mean actually. I've had certain vibes like these and yet have always found a reason , if there's any, why I don't like a certain property. The property maintenance might...

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keybanks estates
keybanks estates 08 Jun 2016

Great News for first time buyers, about time two!

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NathanGreen
NathanGreen 07 Jun 2016

I agree with #6 - you should maintain your garden according to the target buyer. One thing is universal, though - cleanliness and order. Having the yard clutter-free and clean will help people who do enjoy...

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NathanGreen
NathanGreen 06 Jun 2016

I will always say that London is overrated. Sure it is the capital, but it's too stuffed in there. It's more of a business city to me.

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Paul
Paul 25 May 2016

Estate agents are pathetic when it comes to fees. They have this 'I had to do it at 1% because that's what the others were quoting' mentality. We are the most expensive agents in our area, charging double...

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