There have been a few times in 2018 when it was announced that housing stock in the UK had reached a new low, so there is positive news from Rightmove with respect to the supply of houses. It appears that July witnessed a considerable amount of properties being placed on sale in July; a month that is traditionally slow for the property market.
Figures suggest that estate agents now have the highest level of stock in place since September of 2015, which is a notable change to the first half of this year. Although this move has been welcomed by the property market experts and specialists, Rightmove advised caution considering July is a quieter time of year for the property market. However, it should be remembered that spring was negatively impacted by the poor weather conditions experienced in March and it may be that the busy periods in the UK market this year has been moved on. This is certainly the hope of many because a busy summer would be a welcome boost to the market.
Rightmove suggests there has been a marked rise in property supply
In comparison to figures from July 2017, the number of homes available on the Rightmove site is 8.6% higher. This is a positive factor, but some people will point to the fact that there has been very little change with respect to sales to suggest caution is advised when it comes to the market.
There are many reasons for this, and just because houses are placed on the market doesn’t mean that they will sell automatically. There is naturally some lag as prospective buyers review their options and look at the home, so it may be that there will be an increase in sales in the coming months. This is certainly what many specialists will be hoping for.
Stockport has a lot to offer
While house prices are slowing down in London and surrounding areas, it appears prices across the rest of the country are rising moderately. This is something we have noticed at Spencer Harvey and we are delighted to say that there is a level of confidence in the Stockport property market. There has obviously been a considerable level of development and changes in Stockport of late, and this is bringing a fresh look to the town centre. People want to be involved with the local property market, and we are keen to assist people, so contact us if you are looking for guidance or advice with any property market move.
If you are looking for assistance in making a move in or around Stockport, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html