An estate agent in Scotland is the latest industry figure to warn that the sector faces a serious property sales listings drought this year.
Laura Mowatt (pictured), a director of Dunfermline estate agency Maloco + Associates, says her firm has seen a 20% reduction in stock numbers during November but a 12% rise in the number of people looking to buy.
“Right across the area, we’re seeing stock levels dwindle and many who want to move simply won’t take the plunge and go to market fearing that their own home will sell quickly and that they’ll not then find something they want to buy,” she told her local paper.
“Given the lack of new property, it’s an understandable fear but it is an artificial, man-made one.
“I say this as, time after time, those for whom we carry out a free pre-sale valuation will tell as they would list if only they could find the right thing to buy.”
“If everyone who was minded to make a move just listed their home then nearly everyone would find the right property and house prices would stabilise as supply and demand came back into balance.”
The comments by the estate agent echo those of Propertymark CEO Nathan Emerson, who says: “The question then remains – how does the market encourage new stock? Many sellers wait to see something they like and will market on account of having found.
“However, without an enticing catalogue of potential new homes other incentives must become a driving force or pipelines risk becoming starved heading into spring 2022.”