Latest statistics show that the number of houses available on the market is down 11% year-on-year and this scarcity stretches across all regions in the UK. Interestingly, the most significant falls in stock were recorded in the North East and London, with supply falling by 19% and 18.7% respectively. * 

In line with this, rising prices are not being perceived as an issue by buyers as marketing times remain historically low, with properties being snapped up in no time at all. 

What’s happening in the rental market? 

Similarly to the sales sector, rents are also up year-on-year. In fact, the combination of huge demand and scarcity of homes on the market has led to an annual rise of 18.8% in average rents. * 

In London, we’re seeing even higher rises in rents, with the average price now 27.6% higher than this time last year. * 

Have you got a property to sell or let? Find out its value today with a free, no-obligation valuation. 

*Property Reporter