Number of homes for sale reaches five-year high as stock levels surge

The number of homes for sale across the UK is now at a five-year high with 20% more property on the market than this time last year, latest data from Zoopla reveals.

The huge increase is double the amount of homes for sale in 2022 with supply in Cornwall up 159%, North Kesteven in Lincolnshire up 155% and Bournemouth, Christchurch and Poole up 146%.

SOUTH WEST

Overall supply is the highest in the South West, where agents in areas like Truro (main picture) have two and a half as many homes for sale compared to spring 2022.

Izabella Lubowiecka, Senior Property Researcher at Zoopla, says: “The current spring boost in supply on the market is giving potential buyers more choice than ever, but affordability continues to impact budgets.

“Sellers putting their homes on the market need to keep that in mind and ensure they are pricing their property realistically in order to achieve a sale.”

SPRING HAS SPRUNG

Sam Turner, Director at Cornwall estate agent Kivells, says: “The Spring market has definitely sprung for Kivells, as we are seeing increased levels of activity across the county with all offices seeing more demand from buyers and sellers alike.

“There has been a large increase in new properties coming to the market which is giving buyers more choice. This is also assisting the moving process for our vendors as they have more to choose from on their onward purchases.”

He adds: “The housing market across the county is experiencing very positive signs and it has never been more important to ensure that the pricing and marketing of property is correct in order to achieve a successful sale.”

The Neg reported yesterday how latest data from Rightmove showed a surge in the number of large homes coming to the market has pushed asking prices to near record levels.

Main pic credit: Kremer Signs.