You are here: Home - Mortgages - Buy To Let - News -

Housing supply hits record low but demand surges

0
Written by: Paloma Kubiak
29/02/2016
The supply of housing has hit its lowest level in over a decade but demand for property soared in the first month of 2016.

According to the National Association of Estate Agents (NAEA) January Housing Market report, the supply of housing is at its lowest level in 14 years, with the number of available properties per member branch falling to just 33 in January.

In contrast, the demand for housing soared in January, with an average 453 house hunters registered per branch, the highest recorded since July 2015.

The figures also represent a 21% increase from December, when there were an average of 374 registered and the NAEA believes the rise in activity is from landlords pushing to complete sales ahead of the buy to let surcharge which comes into effect on 1 April.

Just over seven in ten (72%) estate agents reported an increase in interest from landlords – a rise from 44% in December.

First time buyers accounted for almost a third (29%) of the total sales made in January, an increase of 5% from December 2015.

Mark Hayward, managing director of NAEA said: “It continues to be a sellers’ market as demand outstrips supply. The number of sales made to FTBs has increased this month, and we should expect to see their market share rise after April.

“The fact that housing supply has reached a 14 year low really highlights the need for the government to push the house building programme to the very top of their agenda and help more FTBs make their first step on to the housing ladder.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Ten ways to reduce your energy bills

If you're tired of sky-high energy bills, here are ten easy steps you can take to bring down the cost...

Close