The average level of sales stock per estate agent branch has dropped by 6.75% compared to 2015, the latest Rightmove index reveals.

This decrease in the number of homes available for sale is across the board; for every month so far this year the average figure is lower than the same month two years ago.

During 2015, historical Rightmove data shows, agents had 61.8 properties on their books on average, which has now dropped by four properties to 57.6 properties.

Rightmove says in its report that overall estate agents’ stock of property for sale remains “tight” particularly further north where demand is exceeding supply.

Northern price rises

This is also pushing up prices faster in the north than the south – Rightmove says the North East’s housing market is experiencing the fastest asking price growth at the moment, up 1.3% month-on-month and 4.7% year-on-year.

Also, it’s the regions above London that are doing the best year-on-year as London, the SE and SW all experiencing weaker price growth than their northern counterparts.

Rightmove is also pessimistic about next year, which it says will see asking price growth of 1% overall.

“2018 will continue the 2017 trend by being a real mixed bag of different price pressures both up and down, but the net result is that we forecast another year of a slowing in the pace of price rises,” says Rightmove Director Miles Shipside (pictured, left).

“The peak in the cycle of rising prices was 2015’s annual jump of 7.4%. The following year saw price growth more than halve to 3.4%, while 2017 is finishing up at 1.2%.”