Hello, and welcome back to the Experience Invest blog. Our expert team offer advice and assistance on residential property investment and we also like to keep updated on all the latest property investment news. In this blogpost we’d like to examine the supply issues currently impacting the residential market.
Property Wire reported recently that newly listed property in the UK had hit an eleven year low. The figures came from the National Association of Estate Agents (NAEA), who revealed that the number of properties available to purchase per estate agent fell by a third in the last month alone.
Lowest level since 2004
There are now around 38 house to each estate agent branch, this compares to 55 houses per branch in July. The last time figures were this low was back in January 2004. The NAEA also revealed that August saw a sharp dip in house hunters, 408 house hunters were registered per branch in August compared to 462 in July, this represents a 12% drop month on month.
The number of sales completed in August rose by one to an average of 10 sales per branch. Sales made to first time buyers didn’t fare so well, and have now dropped to the lowest figures since July 2014. There is also evidence to suggest that movement in the market is taking place higher up the ladder with second and third steppers making up most of the current sales.
11 house hunters for every available property
It seems to the team at Experience Invest that the demand for property isn’t going to slow down at any time soon. Mark Hayward, NAEA managing director said: “There are now 11 house hunters fighting after every available house which isn’t sustainable. First time buyers are finding themselves being squeezed out of the competition, which of course means it’s taking young buyers longer to get their foot on the first step of the ladder, which will in turn increase pressure on the rental market.”
Experience Invest will continue to advise our clients how to best make a return on the current UK property market. We have a wide portfolio of residential property, student accommodation and care home investments which are all designed to maximise return for our clients.
Experience Invest have been trading since 2004 and we’ve worked with all types of investors from first timers to high-NET-worth individuals and corporate clients. As market leaders in UK residential investments we’ve featured in The Telegraph newspaper and on Yahoo Finance. We specialise in high demand, high yield property investments. For more information, or to discuss your own investments needs please contact Experience Invest.