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Supply of Residential Property Falls to 14 Year Low

The number of houses available for sale in the UK has fallen to its lowest level since 2002, according to a new report.

UK Residential Property Market Supply Shortage

The number of houses available for sale in the UK has fallen to its lowest level since 2002, according to a new report.

The National Association of Estate Agent’s monthly survey of member branches has revealed that on average, there were only 33 properties available per branch in January 2016 as supply of property in the UK continues to fall short of demand.


The figures mark the lowest recorded supply in the UK since December 2002, when there was an average of just 25 properties available for sale in each of the NAEA’s member branches.


Whilst supply in the residential property market remains limited, demand has once again grown within the UK. The survey recorded an average of 453 buyer registrations across estate agents, marking the highest level since July 2015.


Demand in January increased by 21% month-on-month, rising from the 374 registrations in December, recovering from the traditional decline in buyer activity that occurs at the end of the year.


The NAEA also found that 72% of its members had seen an increase in the number of property investors looking to purchase a property in January, a distinct increase on the 44% reported in December’s findings.


A surge in the market throughout Q1 has been widely expected, as landlords and property investors seek to complete property purchases before the implementation of the new Stamp Duty levy on second homes and buy-to-let property investments.

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