Property Supply Exceeds Demand!
The coming General Election next month has prompted a lot of uncertainty amongst property investors, according to research by popular property website Hometrack.
For the third consecutive month in a row, the number of properties for sale has exceeded demand from buyers. So much so that estate agents are reporting only a 1% increase of new buyer registrations last month, compared to a 3.7% increase in the number of properties for sale.
Commenting on the impact the General Election – and they proposed housing polices – are having on property sales, Hometrack revealed that these changes are encouraging many property owners to take longer to commit to a property instead causing them to view more before they buy.
However, this is not the only aspect of the property market to be affected by the Election…
Asking prices from sellers too have dropped to 94% after a 13 month high, whilst:
· The average time to sell a property investment has plateau at 8.3 weeks
· Property prices have risen by only 0.2%
· The number of agreed sales has fallen more than 6% from 13% to 6.9%
Examining this growing shift between property demand and supply, it not surprising to find that property price inflation is slowing. In the last 4 weeks alone only 19.4% of postcodes areas have reported property price increases compared to the rest who either plateau or fell in value by 0.1%.
Related posts:
- Property Prices To Boom During 2010!
- German Banks Supply 62% Of All Commercial Lending
- Prime London Locations Break Property Price Records
- Property Prices Annually Rise 4.1% In January
- Property Market Surges
Tags: properties for sale, property investment, property investors, property market, property owners, property prices, property sales, property website
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