The number of homes available for sale across England has jumped 16% in just two weeks as sellers return to the market following the summer holidays, according to Yopa.
The estate agency’s analysis found 331,255 properties listed for sale on 31 August, rising to 385,565 by 14 September.
That represents a net increase of 54,310 available properties as the traditionally busier autumn selling period gets under way.
The influx means sellers entering the market face greater competition for buyers at a time when wider housing market activity remains relatively subdued.
AUTUMN SUPPLY
Rutland recorded the largest increase, with the number of homes available rising 35% over the fortnight. Stock on the Isle of Wight increased by 34%.
Worcestershire and Devon both recorded increases of 20%, while Greater London also saw available stock climb by 20%.
Oxfordshire, Bristol and Norfolk recorded increases of 19%, followed by Somerset and Northamptonshire at 18%.
Verona Frankish (main picture), Chief Executive Officer of Yopa, says: “The summer holidays traditionally bring a quieter period for the property market, with many sellers choosing to hold off while schools are out and families are focused on getting away.
“But once September arrives, we tend to see the market spring back into action and this year has been no different.”
SELLER COMPETITION
Frankish says the increase should provide greater choice for buyers who put their plans on hold during the summer but warns it also raises the stakes for vendors.
She adds: “Greater levels of stock also mean more competition amongst sellers, so those coming to market this autumn will need to remain realistic on price if they want to secure a buyer, particularly with the wider market remaining more subdued than we’ve seen in previous years.”
