Record househunting figures for July
A record number of househunters outnumbered sellers by more than two to one in July, according to property website Rightmove.
The strong figures suggest that house prices could carry on increasing regardless of last week’s interest rate rise.
Over 1.5 million new homebuyers registered with estate agents in the UK last month, the highest number on record, the figures show.
The vast majority of these buyers are existing homeowners, rather than first-time buyers.
Your Move said it estimated that 1.52 m new buyers registered with UK estate agents in July.
However only 633,000 properties are currently on the market in the UK, meaning that buyers are outnumbering sellers by almost 2.5 to 1.