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21/04/2023
The first half of 2021 has brought a period of record-high prices to the housing sector but has also revealed a dramatic shortfall in houses currently on the market, Rightmove has reported in its recently published house price index report.
Approximately 225,000 properties are required across the country to address the gap in property demand. And, with prices continuing to increase in nearly every region across the country, there are huge opportunities for homeowners who are considering selling their property.
What does this mean for sellers?
Family properties are experiencing the biggest imbalance between sales and new stock levels, with an almost 40% surge in sales of properties with over four bedrooms, compared to a 15% reduction in the number of these types of property coming to market.
Three-bedroom properties also face a shortfall as sales see an increase of 28%, plus a 10% drop in supply compared to 2019.
As the shortfall of housing continues into the second half of the year, we can expect housing prices to continue to increase, meaning that sellers may be surprised how much more their home is worth.
What does this mean for buyers?
Despite the shortfall in homes, the volume of sales completed last month has been at an all-time high.
Director, James Watts, said: “At Robert Watts, we know how important it is to find the ideal home for you and your family and we are definitely still feeling the high demand for property in Bradford and the surrounding areas.
“With new listings still receiving a high level of interest, now is a fantastic time to consider selling your home, particularly for those with properties over three bedrooms.
“If you are thinking about selling your home, we can offer you a free valuation so you can find out how much your property is worth in today’s market.”
Find out more about our valuation service, or book an appointment with one of our team, by clicking here.
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