Houses for sale highest for 27 months

The number of houses for sale has soared higher than at any point in the last 27 months, new data shows¹, further strengthening the position of buyers.

As interest rates have risen sharply in the past year, some potential sellers have put their moving plans on ice. It was surprising, therefore, when estate agents reported having an average of 35 homes for sale per branch in March, the highest such number since January 2021. This is a significant rise from a year ago when there were typically 20 properties on sale per branch. Figures for sales agreed are now almost back in line with pre-pandemic averages.

Although challenges remain, this is a strong sign that activity seems to be stabilising. If you’ve been thinking about moving, this could be a great time to find your dream property!

¹Propertymark, 2023