As readers of my blogs know, I like to keep up to date with property statistics and the one that is causing me particular concern at the moment is the lack of properties coming on to the market. I read a recent press release from the National Association of Estate Agents advising that the number of properties available to buy in each estate agent branch has worryingly plummeted to an eleven year low. This is the lowest level of supply since January, 2004.
My concern is that stock can be driven down further by self-fulfilling prophecy – I don’t see anything I want to buy, therefore I am not putting my own property on the market. A lack of stock has huge implications for prices and can mean that they reach unsustainable levels, which as well as creating a bubble, can also make it a lot harder for first time buyers to get on to the ladder.
Partner & Head of Property