Property market enjoys big supply boost this month

Properties for sale numbers jumped 16% overall this month in England, with some areas seeing a 35% leap, according to Yopa

It’s data revealed more than 54,000 homes have hit the market since schools returned following the summer holidays.

At the end of August, there were 331,255 homes listed for sale, but just 14 days later this total had climbed to 385,565.

Properties listed since the start of September now account for around one in every seven homes currently on the market.

More than 54,000 additional homes have hit the market in just two weeks.”

Verona Frankish, Chief Executive of Yopa (pictured), 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, with more than 54,000 additional homes hitting the market in just two weeks.

“That’s a substantial increase in such a short period of time and should bring greater choice for buyers who may have also put their plans on hold over the summer months.”

Largest increase

Rutland has seen the largest increase in for-sale stock, with the number of homes available to buyers climbing 35%. Properties to have recently entered the market in the county currently account for 26% of the total.

The Isle of Wight has seen the second largest increase, with for-sale stock climbing by 34%. Worcestershire and Devon have both seen stock levels up 20%, with Greater London also recording a 20% rise.